The SNB meeting on Thursday will likely be reiteration on what was said on September 6, when the central bank drew a line in sand to curb Swiss franc's appreciation. We are, however, interested to see how the SNB would update the inflation forecasts. We expect to see downward revisions from 3 months ago given the recent global economic turmoil and strength in CHF. Last week, the SNB announced in a surprising manner that it had set the minimum target of EUR/CHF at 1.20. It would 'enforce this minimum rate with the utmost determination' and is 'prepared to purchase foreign exchange in unlimited quantities'. FX market ... (full story)