June 20th, Guolonghui| Pan Sen, Senior European Economist at Macro, Melanie Debono said that after a 25 basis points rate cut on Thursday, the Swiss National Bank is expected to continue to cut interest rates. The Swiss National Bank believes that the average inflation rate in 2024, 2025 and 2026 will be slightly lower than the forecast in March, making its forecast closer to the Pan- Macro forecast. Debono said: "The most important thing is that the Swiss National Bank believes that at the end of its forecast range, that is, the first quarter of 2027, the inflation rate is only 1%. We believe this is the threshold for further interest rate cuts." If the Swiss National Bank's forecast end-of-period inflation rate is 1% or lower, Pan-Macro expects the bank to continue to cut interest rates.
潘森宏观：瑞士央行降息尚未结束
Pan Macro: Swiss National Bank rate cut is not over yet.
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