Most economists polled by Reuters revealed on Tuesday that The Swiss National Bank (SNB) is unlikely to change its negative interest rate policy this Thursdayeven as the country’s inflation rate remains at a 14-year high.
Key comments
“24 out of 26 economists expect the SNB to keep its policy rate steady at -0.75%the lowest in the world and the rate it has maintained since 2015″.
“2 respondents expect a rate hike of 25 basis points by the SNB, which last raised rates 15 years ago.”
“Another 19 of 26 economists expect the official interest rate of the SNB to be at -0.50%, where the ECB is now, or higher at the September meeting.”
“4 of them expect rates to be -0.25% by then, which implies two rate hikes of a quarter of a point or a half point”.
“Only 6 of 26 expect the rate to be at zero or higher by the end of the year“.
“A majority, 17 of 23, said rates would be at zero or higher only by the end of the first quarter of next year.”
Source: Fx Street
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