Switzerland central bank (SNB) decision came in line with market expectations - the 25 bp rate hike. After decision CHF weakened to EUR - EURCHF is at highest level from May. CHFJPY is falling from all-time-high levels.
Current SNB interest rates: 1,75% Expectations: 1,75% Previously: 1,5%
SNB announced that further interest rate hikes in the future cannot be ruled out. On the other hand, the Bank revised down its inflation forecasts for 2023 to 2.2% (previously 2.6%). In 2024, inflation is expected to remain at 2.2%. In the same time, in medium term, inflationary pressure has increased again according to the SNB.
Source: SNB, SFSO
Source: SNB
Source: xStation5
Source: xStation5
Daily Summary: CPI down, Markets Up
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