SNB's Maechler: CHF value has been driven more by views on monetary policy

Comments from the SNB deputy

• Franc value has been driven more by views of global monetary policy development rather than events
• Franc remains sought as a safe haven currency

The SNB has been claiming the franc is overvalued for a decade and even negative rates have done nothing to reverse it. At some point, you need a new explanation.

If the franc is overvalued, let people borrow in it and invest elsewhere. At some point the market will correct. Instead they manipulate and jawbone endlessly, destroying their credibility over time.

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November 10, 2021 at 04:13AM
Adam Button
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