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In an interview with local television station TeleZueri, Swiss National Bank (SNB) Chairman Thomas Jordan said that he doesn’t rule out more interest rate hikes ahead.
Jordan said, “if we see that the current monetary policy is not restrictive enough to ensure price stability in the long term, then we will have to make another interest rate move.”
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In the latest note to the clients, the UBS Economist Alessandro Bee indicated that he sees the Swiss National Bank (SNB) cutting interest rates next year.
Key Quotes:
“Both the European Central Bank and the Federal Reserve to “react to recession risks” with more rate cuts.
That should force the SNB to cut rates in the spring, which is why there shouldn’t be a stronger appreciation of the franc in the next twelve months.”
Meanwhile, the KOF Swiss Economic Institute expects the SNB to cut rates even sooner, and forecasts a reduction by the end of this year, as cited by Bloomberg.
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