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SNB opens the door to negative rates – Danske Bank

FXStreet (Edinburgh) - The SNB slipped the possibility of implementing negative rates, hurting the CHF, commented Sverre Holbek, Senior Analyst at Danske Bank.

Key Quotes

EUR/CHF bounced sharply after SNB’s Thomas Moser said that the central bank would be open to negative rates”.

“The SNB meets on 18 September. We believe that the central bank will keep interest rates unchanged at that meeting but viciously defend the EUR/CHF lower band ahead of 1.20”.

“If we are right, this should trigger some retracement in EUR/CHF following the SNB meeting”.

Sweden Consumer Price Index (YoY) declined to -0.2% in August from previous 0%

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