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MNI STATE OF PLAY: SNB To Hike, With Risks Seen To The Upside

(MNI) LONDON

The Swiss National Bank is set to hike by at least 75bps later this week.

The Swiss National Bank is widely expected to raise its rate paid on sight deposits by 75bps on Thursday, with upward price pressures and recent Federal Reserve and European Central actions increasing chances of a hawkish surprise.

Core inflation has surged to 2% year-on-year, with headline annual inflation at 3.5% in August, up from June and July’s 29-year high of 3.4 % - well above the SNB’s 0-2% target range.

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The Swiss National Bank is widely expected to raise its rate paid on sight deposits by 75bps on Thursday, with upward price pressures and recent Federal Reserve and European Central actions increasing chances of a hawkish surprise.

Core inflation has surged to 2% year-on-year, with headline annual inflation at 3.5% in August, up from June and July’s 29-year high of 3.4 % - well above the SNB’s 0-2% target range.

Keep reading...Show less