Swiss National Bank Monetary Policy Assessment
The SNB Might Try to Talk the CHF Down
Starts Wednesday, October 17, 2018 at 20:20
Updated Thursday, September 20, 2018
The Swiss Franc has been the best performing currency in Q3 so far. It has gained more than 2.5% against the US Dollar. The Swiss economy is growing close to 2.9% annually, but the SNB still keeps interest rates negative. That's because the SNB is seen as safe haven, hence the demand in times when uncertainty is heightened. Since the CHF has gotten a lot of attention from investors recently, the SNB might try to talk it lower with a dovish statement; they're pretty good at it. Traders are aware of this, that's why we saw a wave of selling yesterday ahead of the monetary policy assessment. Please follow us for live coverage of this event and the impact it might have on the currency, by live market analysts.
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About Swiss National Bank Monetary Policy Assessment
The monetary policy assessment is released on a quarterly basis and is the main tool that the Swiss National Bank (SNB) uses to communicate with the public. The interest rate decision is included in the assessment report. The report also includes comments about economic and inflationary projections which affected the rate decision and the monetary policy. Traders try to read between the lines for clues regarding the SNB’s future monetary policy. Volatility is expected during the release of the monetary policy assessment. It is positive for the currency if the assessment is more hawkish than the market is expecting. A press conference follows the report’s release, so the attention tends to shift toward the conference pretty quickly.