He hopes

  • current monetary policy will serve Swiss long-term interests
  • will maintain current rates and monitor effects
  • forecasts assume 3month libor of -0.75% and weaker CHF
  • CHF a safe-haven due to Greek crisis

Well he agrees with me on that one at least

USDCHF down to 0.9163 on USD sales with longs giving up on any help from the SNB. Not for the first time

Danthine:

  • Swiss banks continue to improve capital situation but at slower pace