Wednesday, August 3, 2011

UniCredit: comments on the Swiss National Bank

Analysts at UniCredit believe that today’s move of the Switzerland’s central bank will help to stabilize franc’s rate even if from the fundamental point of view the situation hasn’t changed. The specialists think that the SNB was absolutely right to step in. As the Swiss National Bank mentioned that the nation’s growth outlook has substantially deteriorated, the risk of a recession strongly increased.

Strategists at UBS expect more interventions from the Swiss National Bank as the euro zone’s issues may keep the franc attractive for investors and more easing will be needed to stem its gains. In their view, the previous SNB interventions came at wrong times and acting at current levels could be more effective.

daily eurchf 14-47  
Chart. Daily EUR/CHF

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