SNB changes inflation forecasts

Note: This section contains information in English only.
Source: Dukascopy Bank SA


As it was expected by market analysts, the Swiss National Bank has kept its SNB Policy Rate at 1.75%. However, despite the flat rate, the Swiss Franc lost value, as the central bank announced a change of future inflation forecasts.

Namely, the SNB revealed that it expects lower than previously forecast inflation throughout 2024 and up to 2026. In general, the monetary policy makers expect inflation to return back to 2.0% as soon as the second quarter of 2024 instead of the previous expectations of 1.9% inflation in the first quarter of 2025.

However, after the release the USD/CHF remained flat. That was attributed to the fact that the US Dollar was declining in the meantime against all other peer currencies.
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