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SNB: Press Conference Starts

SNB
SNBCentral Bank NewsSwitzerlandCEEMEABulletGlobalFixed Income BulletsForeign Exchange BulletsRegionMarkets

Press conference starts - introductory remarks first, which were sent out under embargo and released at 9am UKT (see above comment), so little news for the moment.

  • One of the more interesting comments from the introductory remarks is his decent outlook on growth in Switzerland - they think the negative effects of the previous CHF appreciation on growth will taper off over time, and although they view the risks to their outlook as high, their 2025 growth estimate was unchanged since the last meeting in June at 1.5% Y/Y. This contrasts with significant growth concerns in the Eurozone, and is especially noteworthy considering the export-heaviness of the Swiss economy.
  • This decent growth outlook might have been one of the factors preventing a larger size cut - this might be discussed further in the Q&A, which should start in just a couple minutes. Antoine Martin currently speaking on financial stability.
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Press conference starts - introductory remarks first, which were sent out under embargo and released at 9am UKT (see above comment), so little news for the moment.

  • One of the more interesting comments from the introductory remarks is his decent outlook on growth in Switzerland - they think the negative effects of the previous CHF appreciation on growth will taper off over time, and although they view the risks to their outlook as high, their 2025 growth estimate was unchanged since the last meeting in June at 1.5% Y/Y. This contrasts with significant growth concerns in the Eurozone, and is especially noteworthy considering the export-heaviness of the Swiss economy.
  • This decent growth outlook might have been one of the factors preventing a larger size cut - this might be discussed further in the Q&A, which should start in just a couple minutes. Antoine Martin currently speaking on financial stability.