SNB Expected to Hold Rate at 0.00% on June 18 – Nomura

Nomura analysts (Josie Anderson, George Buckley, Andrzej Szczepaniak, David Seif) expect the Swiss National Bank (SNB) to maintain its policy rate at 0.00% during the June 18 meeting. The forecast is based on persistently low Swiss inflation and mixed activity data, along with the ongoing geopolitical risks from the Iran war.

The analysts highlight that the SNB's current stance reflects a cautious approach amid subdued price pressures and uncertain economic signals. No change in the policy rate is anticipated, with the central bank likely to reiterate its willingness to intervene in foreign exchange markets if necessary.

Given the low inflation environment and mixed domestic data, the SNB's decision is seen as a pause rather than a pivot, keeping the Swiss franc under potential pressure depending on global risk sentiment.