#EURCHF @ 0.98979 : SNB to prevent a move above 1.00 – Danske Bank

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EUR/CHF is trading below the 1.00 level. Economists at Danske Bank expect the pair to remain below parity.

“The Swiss National Banks (SNB) Governor Jordan reiterated that monetary policy was still too loose and that the need for further tightening could not be excluded. With headline and core inflation showing no signs of easing and Jordan not closing the door for another significant policy rate increase, we now expect the SNB to increase its policy rate by 50 bps (up from 25 bps) at its meeting on 23 March.”

“Likewise we maintain our view of a cap in EUR/CHF of around 1.00 given continuous intervention by the SNB to limit significant depreciation of the Swiss Franc.”

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