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MNI SNB Review: March 2024 - Lower, More Quickly

SNB

MNI SNB Review: March 2024 - Lower, More Quickly

Executive Summary:

  • SNB has cut its policy rate by 25bps to 1.50%, surprising markets and most analysts
  • Unchanged FX communications, with no focus on either CHF buying or selling
  • Inflation forecast downwardly revised materially despite lower conditional policy rate
For our full review, including a summary of 9 sell-side views, as well as a rough transcript of the press conference incl Q&A, see the PDF below:

SNBReview-2024-03.pdf


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