The Swiss National Bank is expected to cut its benchmark interest rate by 25 basis points on Thursday, from 1.25% to 1.0%. Reuters poll shows: 30 of 32 economists expect a 25 bp cut1 expect a 50 bp cut1 expects no changefurther ahead, 18 of 32 expect a hold in DecemberFactors cited include:SNB raised interest rates more modestly than major peersSNB began cutting sooner, first one was in MarchSwiss inflation fell to 1.1% in August, the lowest among G10 economies (the SNB target banks is 0-2%) CHF has remained strong For CHF traders, this is something to be wary of (Reuters):"Policymakers will be unhappy with the franc's recent appreciation and will use rate cuts to try and stifle its ascent.
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