Market pricing in a further rate cut 11 July 2016
The likelihood of the Swiss National Bank cutting its deposit rate has almost doubled following Brexit.
Three-month Swiss Libor futures for September imply an 80% chance of a 25 bp cut by that time compared to 44% on June 23, the day of Britain’s referendum vote on EU membership. The SNB have repeatedly said that rates could ease further, albeit with limits, in addition to intervention something which Thomas Jordan .