Swiss National Bank officials spoke this morning and gave the market reason to believe the central bank would follow its European counterpart by taking a more dovish approach to monetary policy come the next rate decision on the 18th. Hildebrand remarked that the group was seeking higher capital buffers for its banks with a mind towards liquidity in the market. However, Jordan followed up by seeing little risk of a housing crunch coming to Switzerland as households have not taken on the level of credit that Americans and Brits have. Is this the group’s effort to temper the market to a neutral to dovish outlook next Thursday? The market sees the potential with overnight index swaps showing modest potential for a quarter point hike over the the coming year.