Swiss National Bank deliver their latest verdict at 08.30 GMT
No interest rate cuts expected and Jordan has already expressed concern that there is limited room to lower negative rate further. Something I highlighted into the ECB meeting last week.
He has however also said that exemption thresholds could be increased to ease policy further and with the BOJ already on that path we can't rule out the SNB dropping that one in too.
Board member Maechler has also suggested that they haven't reached the bottom of their tool box but that further monetary policy was limited.
"We have not reached the limit of monetary policy, but this does not mean that it is unlimited. But we have seen in the United States with the quick clean up of banks and the credit sector: When monetary policy is well supported by other political action, it can go further"
EURCHF has been underpinned of late and I make that due to the central bank keeping an ever close hand on the tiller in addition to the generic euro demand. Whether they will just stick to intervention we shall find out soon enough but we can expect plenty of tub- thumping again from Jordan at the post decision presser.
USDCHF currently still on the back foot at 0.9744 but with EURCHF still in demand at 1.0985.
