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September SNB MPA preview: Three out of three
Should the central bank see fit to ease at what would be a third successive Monetary Policy Assessment (MPA), there would seem to be few hurdles in the path of another cut in the SNB’s policy rate this week. Inflation remains low, the Swiss franc strong and domestic economic activity, at best, sluggish. In addition, both the ECB and the Federal Reserve have reduced their key rates since the June MPA. The bank has a habit of surprising investors but there is a strong market consensus favouring another 25 basis point reduction in the benchmark rate to 1.0 percent. This would match its lowest level since December ... (full story)