Credit Suisse & UBS on today's SNB decision

Credit Suisse: They’ll be very happy if this situation persists of a somewhat weaker franc. That will simply mean that they don’t have to intervene any more, but actively they will not do anything in our view. They will certainly not move interest rates in our view ahead of the ECB.

UBS: For us, it’s not yet a sign that a monetary policy switch lies in store, since they said the foreign currency market situation remains fragile. They’d want to see the weaker franc become sustainable before they adjust monetary policy.

14 Sep 2017 - 11:43- Fixed IncomeEconomic Commentary- Source: Credit Suisse/UBS

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