It’s time for your central bank catch up. The link to the latest statement is at the bottom of each section, so just click there to read the bank’s ce
On June 22, the Swiss National Bank raised rates to 1.75% and hinted at potential future rate hikes. While headline inflation in Switzerland remains one of the lowest in the G20 at 2.2% y/y, the SNB has revised its inflation forecasts upward, citing ongoing second-round effects, higher electricity prices, and persistent inflationary pressure from abroad. Check out the latest forecasts below.
What does this mean for the future? Keep a close eye on incoming inflation data as it holds significant importance for the SNB’s rate policy. Higher-than-expected inflation could boost the Swiss franc as markets anticipate higher rates. Conversely, a sharp decline in inflation data may lead to CHF depreciation, as hopes arise that the SNB will not need to hike rates again in September.
Since that time inflation in Japan has been steadily moving higher and inflationary pressures are now being recognised by the BoJ. In the July meeting, the BoJ revised inflation forecasts to 2.5% from 1.8% for 2023 but did cut the 2024 forecast to 1.9% from 2%.The decision was reached by an 8-1 vote, with Nakamura being the sole dissenter on yield curve control. The BOJ believes it is appropriate to enhance the sustainability of its monetary easing measures.
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