SNB to keep its policy rate unchanged – TD Securities

In view of TD Securities analysis team, although it is a fairly close call, but they agree with the consensus and expect the SNB to keep its policy rate unchanged at -0.75%.

Key Quotes

“With the key EURCHF exchange rate now well above its early-September lows, pressure on policymakers to ease policy has diminished following last week's ECB policy announcement. From here, we think the SNB will continue to rely on (limited) FX intervention activity to stem pressure on the currency to appreciate during risk aversion episodes.”