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SNB set to disappoint trigger-happy investors
The Swiss National Bank (SNB) will conclude its policy meeting at 07:30 GMT Thursday, and strangely enough, markets are pricing a 50% chance for a small rate cut. While some more stimulus would make sense, the SNB only has one ‘rate bullet’ left in the chamber so it might prefer to save it for a rainier day, especially now that the upward pressure on the franc has eased. In case policymakers indeed keep their rate powder dry, the franc could spike higher on the news. The world’s most infamous central bank – notorious for shocking financial markets back in 2015 – received a bit of good luck lately. It ... (full story)