The Swiss National Bank (SNB) is announcing monetary policy today at 08:30 GMT. Economists at ING expect a 50 bps increase – which is unlikely to impact the Franc. 

CHF nominal appreciation in the first half of 2023

“The stabilisation in inflation around 3% should allow a downshift to 50 bps after September’s 75 bps rate hike. This should be broadly in line with market expectations, and the impact on the Franc may prove relatively muted.” 

“We continue to forecast CHF nominal appreciation in the first half of next year.”

See – SNB Preview: Forecasts from five major banks, new tightening to come