Swiss bankers expect SNB to maintain zero policy rate through to next year
From the original
The survey showed that all the Swiss bankers surveyed are expecting the SNB to keep its policy rate at 0% for the rest of this year. And looking to 2027, 60% are expecting that to still be the case through the whole of next year. The remaining respondents on the other side of tha
Related speeches
4 itemsBenign inflation keeps Swiss National Bank on hold
Despite prevailing benign inflationary trends, the Swiss National Bank (SNB) has opted to maintain its policy rate at 0%, reflecting a cautious yet stable monetary stance. As highlighted in the analysis, inflation in Switzerland remains comfortably within the SNB's target range of 0–2%, with recent data showing only a 0.6% year-on-year increase in May. The desk interprets this as an indication that the SNB has no immediate justification for altering its policy stance, a sentiment echoed by the source commentary [source]. This aligns with broader consensus views that foresee minimal shifts in policy in the coming quarters, with no significant market events expected to disrupt the current equilibrium.
Swiss National Bank preview: Still no reason to move
The desk anticipates that the Swiss National Bank (SNB) will maintain its current policy rate at 0%, given the relatively low inflation rates despite stronger recent economic growth. Per the full note [source], the Swiss economy's GDP growth surprised on the upside at 1.5% quarter-on-quarter, largely thanks to volatility in the chemicals and pharmaceuticals sectors. This stronger growth forecast is not expected to pose inflationary risks, leading to our conclusion that the SNB will remain on hold in the near term.
More like this
5 itemsFed policymaker Goolsbee warns strong demand may be fueling US inflation as rate hike outlook hardens
ECB inflation headache could worsen as gas prices feed through faster than before
All four major Australian banks now forecast RBA hike to 4.60% on September 29
PBOC sets USD/ CNY reference rate for today at 6.7487 (vs. estimate at 6.6951)