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Focus Will Be on Rates, FX Language at Today's Statement

SNB
  • SNB decision due in 15 minutes time - consensus looks for a 50bps hike, although there are varied views among the sell-side, with a notable minority looking for a 25 or 75bps step this quarter. This is reflected in the views around the peak rate at SNB, which sit between 1.25% and 2.00% for H1 2023.
  • Focus will be on FX language after the bank stated they would be active in currency markets to reinforce monetary conditions, as well as any tweak to tiering thresholds outlined at the September meeting.
  • Decision and Policy Statement, alongside new inflation forecasts, will be followed by a news conference today.

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