TRUDEAU SAYS IT LOOKS LIKE BOC WILL BE LOWERING RATE AGAIN

MNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI China Daily Summary: Tuesday, December 10

MNI: USDA: 2024/2025 CORN PRODUCTION EST 15.14B BSL

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CHF Outperforms Following CPI, Credit Suisse Adjust Rate Forecasts

SWITZERLAND
  • Despite the single currency’s outperformance on Monday, EURCHF sits slightly lower on the session following the above-estimate inflation data released earlier today. In similar vein, the Swiss Franc is the best performing G10 ccy against the greenback, rising 0.42% approaching the APAC crossover.
  • Following the data Credit Suisse have adjusted their forecasts for both the March and June SNB decisions. They now expect the Swiss National Bank to increase borrowing costs by 75bps when it meets later this month.
  • “February’s inflation reading is much higher than we expected,” said a CS economist. “The SNB must further tighten its monetary policy, stronger than what has been expected so far.”
  • Credit Suisse now anticipates another half-point hike at the June rate decision as well. Both forecast adjustments represent a 25bp increase for each meeting compared to prior forecasts.
  • Following the stalled momentum above the 1.00 mark for EURCHF, attention may now turn to the February lows around 0.9847 as we approach the central bank’s next meeting on March 23.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets
HomepageBulletMarketsFixed 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.