Swiss National Bank policy rate (%): Consensus: –0.75; Prior: –0.75
As suggested by a recent interview of Thomas Jordan, chairman of the Swiss National Bank’s (SNB) board, the SNB will likely keep its monetary policy stance unchanged at today’s meeting. Any change in its policy rate or even discussion thereof seems highly unlikely to us.
Bank of England policy rate (%) (Thu.): Consensus: 0.25; Prior: 0.25
We expect the Bank of England (BoE) to stay on hold as we see inflation moderating further, while growth data should stay relatively soft.
US August CPI (% YoY): Consensus: 1.8; Prior: 1.7
Headline inflation is expected to rise slightly, mainly on account of somewhat higher energy and food prices. Core inflation, on the other hand, is expected to tick lower from 1.7% YoY to 1.6% YoY as base effects are likely to cause healthcare price inflation to soften again.
Central Bank of Russia policy rate (%): Consensus: 8.5; Prior: 9.0
As inflation moderated more than expected recently, the Central Bank of Russia (CBR) is likely to resume its easing cycle in today’s meeting.