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MNI SNB Preview - March 2024: Dovish Tilt on the Cards

SNB decision could go either way, with markets split between a hold at 1.75% and a 25bps cut

Executive Summary:

  • SNB decision could go either way, with markets split between a hold at 1.75% and a 25bps cut
  • Inflation has slipped closer to the middle of the SNB target range, clearly undershooting inflation forecasts
  • CHF has depreciated in nominal and real terms during first months of 2024 as SNB switch to a neutral FX approach
Full preview including summary of sell-side views here:

SNBPreview-2024-03.pdf

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Executive Summary:

  • SNB decision could go either way, with markets split between a hold at 1.75% and a 25bps cut
  • Inflation has slipped closer to the middle of the SNB target range, clearly undershooting inflation forecasts
  • CHF has depreciated in nominal and real terms during first months of 2024 as SNB switch to a neutral FX approach
Full preview including summary of sell-side views here:

SNBPreview-2024-03.pdf

Keep reading...Show less