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ZURICH : The Swiss National Bank is expected to nudge its money market repo rates further down in a bid to weaken the Swiss franc again after a slide in the currency following Wednesday's repo rate cut petered out.
Money market and currency traders said on Thursday they expected the SNB to lower the rate on its near-daily securities repurchase pacts further, possibly to 1.35 to 1.30 percent, after it cut the rate by an unusually large 10 basis points to 1.39 percent.
"If the SNB really wants to make waves and drive the franc down, it will have to follow through. We are assuming that the SNB will continue on this course," a money trader said.
On Wednesday, an SNB spokesman had said the central bank had "some …