The Swiss National Bank is again at the mercy of its bigger neighbors and will have to lean in a more dovish direction to keep its currency under control. With the franc having touched a two-year high against the euro, SNB President Thomas Jordan and fellow policy makers are feeling the pressure from risks such as trade tensions, a German industrial slump, Italian politics and Brexit. It’s quite a difference from 2018, when the currency’s weakness provided an unused opportunity for raising the deposit rate from a record-low -0.75%. While no economist surveyed by Bloomberg expects a rate change on Thursday, there ... (full story)