• Swiss franc has significantly increased in past few weeks
  • Underlying inflation pressure has decreased
  • We will continue to monitor developments closely, adjust policy if necessary
  • Willing to be active in foreign exchange markets as necessary

The comment on the franc having "significantly increased" does change things up a bit. That perhaps says they are comfortable with the currency at its present levels, as they look to press further with easing monetary policy. USD/CHF remains up 0.6% at 0.8896 on the day.