SNB would be foolish to soften, says Julius Baer as the economic situation around Switzerland is still quite serious. "All the economic data justifies the Swiss central bank's currency policy stance, and its unlikely to change it at Thursday's quarterly meeting," says Baer chief economist Janwillem Acket. "With hindsight, its CHF1.20-per-euro floor has been proven right, and it would be very foolish to relinquish it," he adds. The SNB policy decision is due Thursday at 0730 GMT.
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