SNB’s First ‘Soft Policy’ Rate Summary Leaves Analysts Split

The Swiss National Bank’s first attempt to embrace more transparency over its policy decisions received a mixed welcome from observers seeking clues on possible interest-rate cuts and franc intervention.

The summary of its Sept. 25 meeting discussion released on Thursday underwhelmed some strategists and economists for its scant detail on the market and the prospect of negative borrowing costs, while intriguing others with its glimpse on the deliberation process for a traditionally secretive institution.