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SNB’s negative rates panic not enough

by Ashraf Laidi
Dec 18, 2014 17:35

Today's SNB entry into negative rates will not be enough. Just as the SNB was forced into a series of interventions in summer 2011 before eventually formalizing the 1.20 peg, more will be needed to maintain the peg and combat a fresh onslaught of risks such as deflation-inducing oil collapse, event risk in Russia, uncertainty in Greece and exported deflation from China. Full chart & analysis.

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SNB’s negative rates panic not enough - Eurchf Usdchf Dec 19 (Chart 1)

 
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