ICYMI, Bloomberg (gated) with the report, on Swissmem (the country’s biggest lobby group for manufacturers):
- The Swiss National Bank must do something fast to keep the franc’s strength from hurting exporters
- sudden appreciation in the currency is threatening a vulnerable recovery for overseas sales seen in recent months
- didn’t offer a view on what tools the SNB should deploy
The SNB has cut rates twice the year. Its expected to cut again next month
ps. While the chart is USD/CHF there is just as much, if not more, concern about CHF strength against the EUR.
