Swiss National Bank will enforce cap on franc at 1.20 per euro.
SNB ready to buy fx in unlimited amounts.
Pay&Pray.
SNB says franc is still high. Further appreciation of franc would have serious impact on both prices and economy in Switzerland.
SNB ready to take further measures if necessary.
Taxation of Swiss franc accounts for non-residents ?
Ridiculous, but possible.
Imbalances in the Swiss mortgage and real estate markets continued to grow in the last quarter.
This is already a real bubble, but it will not burst any time soon because there are many foreign investors.
Surveys show no deflationary expectations at the moment and no inflationary threat.
That may be true, until now.
SNB will continue to target 3-month libor at 0-0.25.
SNB sees 2012 growth at around +1.5% (previous forecast was close to 1%).
SNB expects significant slowdown in Swiss GDP growth in Q2.
Growth too optimistic for 2012, recession has also arrived here.
Market reaction : absolutely nothing, no fireworks.
