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SNB Likely to Halt Foreign Currency Purchases, Credit Suisse Says
The Swiss National Bank is likely to halt its foreign currency purchases after higher inflation decreased the need for a weak franc, Credit Suisse said. “The inflation outlook does not allow for much Swiss franc depreciation anymore,” the bank’s economist Maxime Botteron, wrote in a note. “The SNB will therefore most likely halt its foreign currency purchases that have contributed to reducing appreciation pressures on the Swiss franc.” Such a shift would be a noteworthy change for the central bank, which purchased more than 775 billion francs ($812 billion) worth of foreign currencies since 2009 in order to ... (full story)