June SNB MPA preview: Still not restrictive enough

From econoday.com

Having previously delivered a 50 basis point hike at the March Monetary Policy Assessment (MPA), the SNB is widely expected to raise its policy rate again on Thursday. The last change lifted the benchmark rate to 1.50 percent, its fourth successive increase since the first back in June 2022, and, in the face of what was then a possible full-blown banking crisis, a move that underlined the central bank’s determination to get inflation back under control. The rise boosted the cumulative tightening to 225 basis points but, even then, the bank’s updated forecast still showed inflation at or above 2 percent throughout ... (full story)