(Bloomberg) -- The Swiss National Bank decision this week is set to be another nail-biter on whether officials will cut their interest rate or stay on...
-- The Swiss National Bank decision this week is set to be another nail-biter on whether officials will cut their interest rate or stay on hold.Nvidia’s 591,078% Rally to Most Valuable Stock Came in WavesThe announcement by the central bank on Thursday will come three weeks to the day since the last public comment by one of its policymakers. Amid market volatility and gains in the franc since then, investors have been left guessing whether there is a prospect of any further move.
For this week’s decision, traders’ bets on an SNB cut have fallen from some 97% in April to around 60%. Economists aren’t so sure, with 16 out of 28 in a Bloomberg survey anticipating no change. Here’s a closer look at the quandary the SNB faces. Bloomberg Economics’ Maeva Cousin highlights that growth has maintained momentum for three quarters in a row, operating broadly at potential. She also says that the SNB would need to revise its inflation forecast upward if officials were to cut now.
It’s not clear how SNB officials will judge that move. They have long used interventions to keep a lid on the currency, though cutting rates is also an option if they want to weaken it. On the other hand, avoiding any easing could also limit imported inflation.
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