Analysts expect two more SNB rate cuts

24 Apr 2024

  • The UBS CFA Society Switzerland Indicator increased slightly in April 2024 to 17.6. A positive value indicates that the surveyed analysts expect an economic improvement over the next six months.
  • Following the surprising SNB rate cut in March, participants anticipate a more expansive monetary policy than expected in January. They predict two more rate cuts by the SNB.
  • Confidence in rate cuts by the ECB and the Fed remains intact. Analysts expect a tightening between short-term euro and Swiss franc interest rates in the next two quarters and a rebound of the Swiss franc against the euro. In contrast to the euro, gold prices are expected to continue their rally.
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