The ECB is getting more vocal on a potential full-scale QE as inflation and inflation expectations threaten its price-stability mandate. Meanwhile, as the 1.20 threshold in EUR/CHF set by the Swiss National Bank is under pressure, the Swiss central bank has likely started to use other means than words to defend it. The introduction of negative deposit rates in Switzerland could be the only sustainable way to curb the selling pressures on EUR/CHF.
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