but markets shouldn’t get overexcited about it; Too late for that I reckon; sees low inflation rates; doesn’t see deflation; certain security line needed; inflation needs to be monitored; negative depo rates have limited effect; it’s clear that the SNB action has had an impact globally; Give that man a prize for observation; should not over dramatise the CHF loan issue; in most cases there is no major immediate effect from CHF loans; Try telling that to the millions of CHF mortgage holders (full story)