Tech

Knowladge Base

I am the new one

By John Revill<br> ZURICH, Nov 3 (Reuters) - The Swiss National Bank is expected to plough ahead with its monetary policy tightening into next year despite Swiss inflation ticking lower in October, analysts said on Thursday.<br> Swiss consumer inflation slowed to 3.0% in October, from 3.3% in September and lower than analyst forecasts for 3.2%, data showed on Thursday.<br> But economists said they expect the bank to continue policy tightening which has seen it hike rates to 0.5% this year to tackle inflation that has hovered near 30-year highs.<br> SNB Chairman Thomas Jordan has also pointed to further tightening, telling the Swiss government on Wednesday that further interest rate hikes could be necessary to ensure price stability in the medium term.<br> The SNB declined to comment further on Thursday.<br> "The decline in both core and headline inflation in October supports our view that Switzerland has passed peak inflation," said Andrew Kenningham of Capital Economics.<br> "We expect further tightening in the next few months," Kenningham said.  "But given Switzerland's lower inflation rate, the SNB will not need to raise rates as far as the European Central Bank. We forecast the policy rate to be almost 2 percentage points below the ECB's by mid-2023."<br> The SNB is one of several banks raising rates to combat inflation. The U.S. Federal Reserve hiked rates on Wednesday and the Bank of England followed on Thursday.<br> The latest Swiss inflation reading overshot the SNB's price stability target -- of inflation in the range of 0-2% -- for the ninth month in a row.<br> UBS expects the SNB to hike its rates to 1% in December, and to 1.25% in March 2023, while Credit Suisse expects the SNB to raise its rates by 25 basis points in December and another 25 bps in March.<br> The central bank is due to announce its next monetary policy decision on Dec.  15.<br> "As inflation came in below expectations in October and the risk to the SNB inflation forecast for Q4 is now to the downside, we are comfortable with a below-consensus forecast of a 25 bps policy rate hike by the SNB in December," said Credit Suisse economist Maxime Botteron. (Reporting by John Revill; Editing by Kirsten Donovan)<br> adverts.addToArray({"pos":"inread_player"})Advertisement  Feel free to visit my web blog;  https://togelshiohk.com/
 
Powered by FogBugz