According to Dow Jones, the bank sees the SNB raising the peg to 1.2500 from 1.2000 over the next quarter.
They say the move would help the SNB to loosen monetary policy and would be tactical to ensure the floor continues to meet little challenge. Interesting.
Kinda like, the best form of defence is offence. Jamie and I have had numerous conversations on this topic. So much so he’s nearly talked me out of expecting a rise in the peg anytime soon
Anyways, I think it’s a very ballsy call by the bank.
Just think if they get it wrong, the more negative among you can have a field day taking the piss
The cross has soared (yer right) to 1.2028 from the 1.2015 which greeted me first thing. zzzzzzzzzzzzz
