#EURCHF @ 0.99695 to see a sustained return above parity – SocGen
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SNB raises policy rate by 50 bps to 1.50%. Economists at Société Générale expect the EUR/CHF pair to regain the 1.00 level.
“The SNB raised the policy rate by 50 bps to 1.50 as expected and did not rule out additional tightening, following in the footsteps of the ECB last week. It narrows the spread vs the Euro policy rate to 150 bps, but our base case is for this to widen in the coming months if market volatility subsides. This in theory augurs well for a sustained return of EUR/CHF above parity.”
“EUR/CHF resistance at 1.0015/40.”
“Measures announced by the federal government, FINMA and the SNB have put a halt to the banking crisis.”
“The central bank revised up the inflation forecast to 2.6% for 2023 and 2.0% for 2024 and 2025.”
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