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<ul><li>Price increases are hitting parts of the economy not previously impacted</li><li>Inflation has risen much more than expected and is 'considerably' above target</li><li>Further hikes cannot be ruled out</li><li>Central bank is ready to be active in FX market</li><li>Ensuring price stability demands the full attention of the central bank</li></ul><p>The SNB hiked 75 bps yesterday but many were expecting 100 bps.</p><p>There's no indication here on how aggressive they will be here but I don't think markets can turn until central bankers offer some kind of indication that they're at least thinking about a pause.</p>

                This article was written by Adam Button at forexlive.com.