Pan Sen Macro: Swiss National Bank interest rate cut is not over yet

On June 20th, Jin10 Data reported that Melanie Debono, Senior European Economist at Pantheon Macroeconomics, said that after a 25 basis point rate cut on Thursday, the Swiss National Bank is expected to continue to cut interest rates. The Swiss National Bank believes that the average inflation rate in 2024, 2025 and 2026 will be slightly lower than the forecast in March, making its forecast closer to Pantheon Macroeconomic's forecast. Debono said: 'The most important thing is that the Swiss National Bank believes that at the end of its forecast range, that is, in the first quarter of 2027, the inflation rate is only 1%. We believe this is the threshold for further interest rate cuts.' If the Swiss National Bank's forecast for the end of the period is 1% or lower, Pantheon Macroeconomics expects the bank to continue to cut interest rates.