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Sep 16 - 12:55 PM

CHF: SNB To Hike 75bps Next Week; EUR/CHF Likely Lower On Announcement - Danske

By eFXdata  —  Sep 16 - 10:45 AM

Danske Research discusses its expectations for next week's SNB policy meeting.

"EUR/CHF moved sharply lower yesterday afternoon, briefly dropping below 0.9550, reaching the lowest level since the removal of the floor in January 2015. We continue to expect the SNB to follow the ECB in terms of rate hikes to curb underlying inflation pressures," Danske notes. 

"We expect SNB to hike rates by 75bp on Thursday 22 September followed by a 50bp hike in December. Markets are currently pricing 58 and we acknowledge that it is a close call between 50bp and 75bp. In our base case, we expect EUR/CHF to move lower on announcement," Danske adds.

Source:
Danske Research/Market Commentary

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