IMF out with their latest thoughts on Switzerland 26 Sept

  • Swiss economy has adapted well since franc-cap exit
  • see Swiss economy growing at 1.5% in 2016
  • deflationary pressure have eased
  • SNB should intervene to prevent large sudden franc moves

SNB don't need any encouragement on that one lately but isn't a little strange that the IMF advocate/approve intervention by them and not anyone else?

  • SNB could cut rates to reduce need for small interventions
  • could also consider lowering exemption threshold

USDCHF and EURCHF unfazed at 0.9685 and 1.0887.