SNB’s Martin: Made “absolutely no commitment” to its next course of action

 Swiss National Bank (SNB) Vice Chairman Antoine Martin said on Monday that the “SNB had made "absolutely no commitment" to its next course of action.”

Additional quotes

It is not useful for central banks to lock themselves into forward-looking communication.

Between now and the next decision, there may be changes in conditions that render current communication to be invalid.

Everything will depend on conditions when we assess the situation in December.

Expects franc to structurally appreciate over time amid inflation differentials, i.e. low Swiss inflation.

In real terms, franc appreciation has been more limited.

Market reaction

USD/CHF was last seen trading 0.21% higher on the day at 0.8770.