Skip to main content

SNB’s last cut in the cycle

We expect the SNB to cut its policy rate by 25bp next week to take it to 0.25% in response to the very low inflation rate early this year. But we think that will be the last cut of the cycle, as underlying price pressures have not been as weak as we anticipated, the franc has depreciated over the last couple of months, and the recent fiscal announcements by the EU and Germany will boost demand in the region.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.

By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.