RPT-MNI INTERVIEW: CPI Rent Easing To Continue - Apt List

MNI: Japan Sumitomo Life Eyes 30-Year JGBs Above 2%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1048 Weds; -4.92% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1048 WEDS VS 7.1059

MNI China Liquidity Index™ – Conditions Ease In April

MNI DATA TABLE: MNI China Interbank Liquidity Index (Apr) - 1

MNI DATA TABLE: MNI China Interbank Liquidity Index (Apr) - 3

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Goldman Sachs: Sees hiking to terminal rate of 1.50% next year

SNB
  • While we had flagged a strong possibility of a hike, the 50bp magnitude was a surprise to both us and market expectations.
  • The SNB also adjusted its language on potential currency intervention by dropping the one-sided commitment to guard against currency depreciation, implicitly signalling the potential for foreign asset sales to further strengthen the Franc.
  • Given the SNB's hawkish surprise today, we now look for three further 50bp hikes in September, December and March next year, followed by one further 25bp hike in June of next year for a terminal rate of 1.50%.
  • Given the SNB's preference for tightening the monetary stance through the policy rate rather than the balance sheet, we expect the SNB to only gradually unwind its asset holdings, without a pre-announced path.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeSwiss National Bank Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeSwiss National Bank Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.