Central Banks
SNB Acknowledges Market Expectations of Further Rate Cuts
- Inverted swap curve points that way, Martin and Moser say
- Senior officials speak at money-market event in Zurich
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The Swiss National Bank acknowledges that investors anticipate more reductions in borrowing costs soon, two senior officials said on Thursday.
“Today, the swap curve is inverted, which is consistent with market participants’ expectations of moderate inflation and further cuts in the SNB policy rate in the near future,” policymaker Antoine Martin and deputy board member Thomas Moser said in a joint speech in Zurich.