SNBs Jordan
  • Price increases are hitting parts of the economy not previously impacted
  • Inflation has risen much more than expected and is 'considerably' above target
  • Further hikes cannot be ruled out
  • Central bank is ready to be active in FX market
  • Ensuring price stability demands the full attention of the central bank

The SNB hiked 75 bps yesterday but many were expecting 100 bps.

There's no indication here on how aggressive they will be here but I don't think markets can turn until central bankers offer some kind of indication that they're at least thinking about a pause.