Is the Swiss National Bank cutting interest by 25 basis points or 50 basis points for the Swiss central bank ?
The market pricing at the moment is split it is 50-50, the SNB prefers a weaker franc at this stage and they were very frank about it, but if they were to move by 50 basis points the retracements would be even greater.
But they can also go with 25 basis points and then start calling the franc overvalued again too, and this will be a clear message to the markets with the most important willing to intervene to limit the appreciation of their currency.
So we'll see how it goes later in the session.
