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9. SNB may intervene if ECB expands stimulus – Bloomberg survey

FXStreet (Mumbai) - The latest monthly Bloomberg survey published today showed the Swiss National Bank (SNB) may intervene in the FX markets in order to stem the appreciation in the CHF in case the ECB expands its stimulus.

63% of economists surveyed by Bloomberg predict the SNB will respond to ECB with market interventions.

European Central Bank (ECB) bank is widely expected to increase its QE program – currently a EUR 1.1 trillion program. This could lead to a rise in the CHF, which is already overvalued in the eyes of the SNB.

The ECB officials have said repeatedly they are ready to do more if needed, they also indicated it’s too soon to decide. The ECB holds its policy meeting on Thursday.

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