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MNI SNB Review: September 2023 [CORRECT]

SNB

[Correction: Fixed typo in summary paragraph below and in PDF to 2.00% (vs. 1.75% prior)]


The SNB defied broad consensus and market expectations for a final rate hike to 2.00%, instead opting to keep policy unchanged.

  • The policy statement makes clear that hiking cycle so far has aided decelerating inflation.
  • The Bank is unlikely to drop the message that more tightening may be required ahead.
Our full review including a summary of sell-side views can be found here.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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