The head of the Swiss National Bank Philipp Hildebrand claimed in the interview with the L'Agefi newspaper that strong Swiss franc is stemming inflation pressures coming from higher energy and food prices. According to Hildebrand, though price stability is ensured in the near term, it’s not possible to keep the interest rates at the record minimums in the longer term as inflation will ultimately rise.

Bank of Tokyo-Mitsubishi UFJ note that the expectations of SNB tightening monetary policy have strengthened. The specialists believe that Swiss currency may strengthen during the European session but the pairs EUR/CHF and USD/CHF won’t fall too much.



Chart. H4 USD/CHF

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