The Swiss National Bank (SNB) is expected to keep its policy rates unchanged at the lowest level globally when it announces its decision on Thursday, at 0830 GMT. Domestic data are lackluster, Switzerland’s main export markets are slowing, and most importantly, the ECB turned dovish lately. Combined, these imply the SNB will probably retain an ultra-dovish tone. While such signals would argue for a slow grind lower in the franc, any risk-off global incident could trigger episodes of sudden appreciation [..]
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