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MNI SNB Review-Sep 2024: Further Further Easing Incoming

SNB has, as expected, cut its policy rate for the third consecutive time by 25bps.
Central Bank ReviewGlobalHomepageSwitzerlandSNB - ReviewCEEMEACentral Bank ReportsMarketsStoryRegion

MNI (LONDON) - EXECUTIVE SUMMARY:

  • SNB has, as expected, cut its policy rate for the third consecutive time by 25bps, and materially kept its FX communications unchanged
  • They have revised lower their inflation forecast amid lower inflationary pressures driven by a stronger CHF and lower energy prices, despite it being conditional on the new, lower, policy rate of 1.00%
  • The biggest surprise of the meeting likely was the addendum of a comment on potential further easing, which yielded a repricing in longer-term Swiss interest rate markets

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK: SNBReview-2024-09.pdf


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MNI (LONDON) - EXECUTIVE SUMMARY:

  • SNB has, as expected, cut its policy rate for the third consecutive time by 25bps, and materially kept its FX communications unchanged
  • They have revised lower their inflation forecast amid lower inflationary pressures driven by a stronger CHF and lower energy prices, despite it being conditional on the new, lower, policy rate of 1.00%
  • The biggest surprise of the meeting likely was the addendum of a comment on potential further easing, which yielded a repricing in longer-term Swiss interest rate markets

FOR THE FULL PUBLICATION PLEASE USE THE FOLLOWING LINK: SNBReview-2024-09.pdf