by George Dorgan
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My real-time tweets contain the main important points of the SNB meeting from the view of investors or FX traders.
As usual, bank research was more dovish than the SNB. They do not understand that deflation in Switzerland is only a temporary phenomenon… respectively they know it but they want to mislead clients. One of the Swiss major banks bet on a SNB rate cut to minus 1%.
It is also important to know that the German discussion and Q&A is often more hawkish than the rather dovish English press releases.
#Jordan negative inflation rate only temporary, caused by oil and price adjustments of imported goods, globally also low inflation #CHF #SNB
— George Dorgan (@DorganG) December 10, 2015
#jordan Swiss sovereign money initiative means a complete change of financial system, #SNB needs longer evaluation #vollgeld #CHF — George Dorgan (@DorganG) December 10, 2015
#jordan Swiss deflation mostly caused by exchange rate and oil. No deflationary risks #chf #snb
— George Dorgan (@DorganG) December 10, 2015
#jordan monetary policy has nothing to do with productivity #chf #snb — George Dorgan (@DorganG) December 10, 2015
#chf unimpressed by fact that #snb does not lower rates
— George Dorgan (@DorganG) December 10, 2015
#maechler the exoneration from negative rates has risen from 440 billion to 470 billion. Reason #snb interventions #chf — George Dorgan (@DorganG) December 10, 2015
#maechler capital of 170 billion #chf are concerned by #negative rates of 0.75% #snb
— George Dorgan (@DorganG) December 10, 2015
#mächler negative rates is major measure against overvalued franc #snb. #chf — George Dorgan (@DorganG) December 10, 2015
#mächler Swiss interest rates are falling again #chf #snb
— George Dorgan (@DorganG) December 10, 2015
#māchler dollar has Improved by 4.5%. But the euro has remained weak #snb #chf — George Dorgan (@DorganG) December 10, 2015
#mächler global risk appetite has recovered after Chinese issues in summer #snb #chf
— George Dorgan (@DorganG) December 10, 2015
#zurbrügg: #snb must address risks on mortgage market. Will potentially raise rate of counter cyclical capital buffer #snb #chf — George Dorgan (@DorganG) December 10, 2015
#jordan : swiss companies see rising prices #chf #snb
— George Dorgan (@DorganG) December 10, 2015
#jordan emphasizes that end of peg was necessary #chf #snb — George Dorgan (@DorganG) December 10, 2015
#jordan #snb will still be active on the currency market #chf
— George Dorgan (@DorganG) December 10, 2015
#jordan sees somewhat stronger swiss growth while global growth still weak #chf #snb — George Dorgan (@DorganG) December 10, 2015
#jordan emphasizes #chf weakness against Dollar #snb
— George Dorgan (@DorganG) December 10, 2015
Ahead of the #SNB meeting, many updates on our #CHF and #SNB pages https://t.co/PsdQNd9tTL — George Dorgan (@DorganG) December 10, 2015
References:
Text (English) by Thomas Jordan
Text (English) by Fritz Zurbrügg
