Swiss Central Bank Expected to Maintain Policy Rate at 0%, Goldman Sachs Economist Says

Goldman Sachs economist Nicholas Garnard stated in a report that the Swiss National Bank is expected to keep its policy rate at 0% for the foreseeable future. According to Jin10, Garnard noted that while core inflation remains moderate, overall inflation is currently slightly above the Swiss National Bank's March forecast. In April, overall inflation was 0.6%, up from 0.3% in March, while core inflation slightly decreased from 0.4% to 0.3%. Garnard mentioned, 'Based on our current forecast, despite significant increases in energy and commodity prices, we do not anticipate a rate hike.' He added that the appreciation of the Swiss franc and Switzerland's relatively low energy intensity should help mitigate the impact on consumer prices.