Details from the December 2017 SNB monetary policy meeting 14 December 2017

  • 3m LIBOR lower target -1.25%
  • 3m LIBOR upper target -0.25%
  • Sight deposit rate -0.75%

Highlights;

  • Remains active in currency markets as necessary
  • 2018 GDP around 2.0% vs 1.0% prior
  • 2017 CPI 0.5% vs 0.4% prior
  • 2018 CPI 0.7% vs 0.4% prior
  • 2019 CPI 1.1% unch
  • Depreciation of swissfranc reflects fact safe havens are currently less sought after
  • Swiss Franc remains highly overvalued
  • Negative rates and SNB’s willingness to intervene in FX as necessary remains essential

EURCHF is up to a high of 1.1672 from around 1.1640. USDCHF 0.9863 from 0.9843.

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

Pin It on Pinterest