Free Trial

UBS Bring Forward SNB Rate Hike Call

SNB
  • Following the change to their ECB call, they now see SNB hiking in December this year.
  • They see the SNB raising rates by 25bps (first rate hike since 2007), brought forward from their prior call of 25bps rate rise in December 2023.
  • Rising longer-term inflation expectations, a tight labour market and an expected depreciation for the CHF should result in medium-term CPI forecasts rising this year.
  • An earlier ECB hike prompts UBS to expected the SNB to follow in order to rebuild some of the interest rate differential, at least temporarily.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.