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.