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BREAKING: SNB cuts rates by 25bps; USDCHF ticks higher 📈

8:30 AM 20 June 2024

 - Switzerland, SNB decision. Actual: 1.25%. Forecast: 1.25%. Previously: 1.5%. 

  • SNB SEES 2024 INFLATION AT 1.3% (PREVIOUS FORECAST WAS FOR 1.4%).
  • SNB SEES 2025 INFLATION AT 1.1% (PREVIOUS FORECAST WAS FOR 1.2%).
  • SNB SEES 2026 INFLATION AT 1% (PREVIOUS FORECAST WAS FOR 1.1%)

The decision was not so obvious, as the consensus of many analysts was to keep rates unchanged. Source: SFSO

The rate cut and revised inflation forecasts for the coming years are triggering a pullback on the CHF. Source: xStation 

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