Swiss government says IMF advises continued monitoring of mortgage and real estate market

Swiss government responding to IMF report just published 26 March

• IMF sees potential risks in Swiss mortgage and real estate markets
• IMF says SNB intervention and neg rates policy has proved its worth which has helped stabilise inflation and prevent excessive appreciation of the franc

Swiss authorities not surprisingly quick to jump on the IMF's rather strange/inappropriate/unusual backing of SNB mon pol/CHF manipulation.

SNB's Moser:

• inflation f/c key for any tighter policy

I had the IMF report here

USDCHF still underpinned above 0.9450 and EURCHF posting 1.1740 session highs as EURUSD holds above 1.2400 too.