{
  "id": 9742167,
  "title": "Swiss Franc: Still a low-yield funding currency – OCBC",
  "url": "https://urgent.news/2026/09/25/swiss-franc-still-a-low-yield-funding-currency-ocbc",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-25T09:29:29.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/swiss-franc-still-a-low-yield-funding-currency-ocbc-202609250929"
  },
  "original_language": "en",
  "account": "OCBC analysts Sim Moh Siong and Christopher Wong have observed that the Swiss National Bank (SNB) maintained its policy rate at 0% and softened its foreign exchange intervention language, signaling a more accommodating stance towards a stronger Swiss Franc (CHF). Despite this, OCBC still perceives the CHF primarily as a funding currency in the near future due to factors such as stable inflation and unchanged policy rates. The SNB's language change suggests a greater tolerance for a stable or stronger CHF, which could help mitigate inflation risks caused by higher energy prices. Inflation is expected to remain within the SNB's 0-2% range, with an average of 0.8% projected for 2027 and 2028, assuming policy rates stay at 0%. OCBC does not anticipate the SNB to adopt a more hawkish approach, as current inflation levels are within the central bank's target range. While risks to CHF funding do exist, such as a sudden increase in gold prices or a negative European growth outlook, these risks do not appear imminent. Consequently, the CHF is likely to continue serving as a low-yield funding currency in the coming months.",
  "summary": "OCBC strategists Sim Moh Siong and Christopher Wong note that the Swiss National Bank (SNB) kept rates at 0% and toned down its FX intervention language, signalling more tolerance for a firmer Swiss Franc but not a hawkish shift.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "CNA - Business",
        "title": "Dollar hovers near 2-month peak, Swiss Franc falls, Norwegian crown rises",
        "url": "https://urgent.news/2026/09/24/dollar-hovers-near-2-month-peak-swiss-franc-falls-norwegian-crown",
        "published": "2026-09-24T09:18:34.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}