Commerzbank: The SNB is likely to keep interest rates unchanged, but the wording may soften

You-Na Park-Heger, an analyst at Commerzbank, said in a report that the SNB may decide to keep interest rates unchanged, but the market believes that interest rate cuts are unlikely, and the central bank may adjust its communication methods. In November, inflation fell to 1.4%, “so it’s not surprising that there is speculation of a rate cut.” She said the question for the market will also be whether the SNB will continue to support the strength of the Swiss franc to offset the upside risks to inflation, or whether it will start to worry that the recent appreciation of the Swiss franc may “start to curb inflation too much.”