BREAKING: SNB with 25 bp rate hike! CHFJPY falls from historic highs

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