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Dec 13 - 02:55 PM

CHF: 2 Reasons Why The SNB May Opt For A Larger Rate Hike On Thurs - Credit Agricole

By eFXdata  —  Dec 13 - 01:30 PM

Credit Agricole CIB Research discusses its expectations for the SBN December policy meeting on Thursday.

"The CHF should keep a close eye on the bank’s next monetary policy meeting on Thursday, as the outcome always carries a greater part of uncertainty than most other major central banks. The market expects the SNB to raise rates by 50bp to 1.00%, as a smaller tightening step than September’s would largely make sense as Swiss inflation cools off somewhat to 3.0% YoY so far in Q422 (vs SNB forecasts of 3.4%)," CACIB notes. 

"Yet, the SNB could eventually be tempted to do more to (1) close the gap with the bold tightening efforts of other central banks over the past three months or so; and (2) prevent further CHF weakness if the SNB has already started using FX sales as well," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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