Analysts at Rabobank explained that they still expect more measures from the ECB this year (probably as soon as September) – via a cut in the deposit rate - with fresh pressure on the EUR/CHF currency pair. Key Quotes: "...which could trigger more action from the SNB. First, via additional currency purchases and as soon as 16 June via a cut in the deposit rate from -0.75% to -1.00%. There are certain limits to what the SNB can do, and we do not believe the bank will cut further than -1.25% (perhaps already in December this year). We also believe the SNB will face political headwinds in the case that its total balance sheet exceeds 105-110% of nominal GDP. We would therefore argue that the amount it could buy is for the time being limited to another CHF 50bn." For more information, read our latest forex news.