SNB, BoE and ECB rate decisions are the focuses of the day and all are expected to deliver 50bps rate hikes.
There are some talks that given SNB only meets every quarter, it may surprise the market by maintaining the pace of 75bps. But the balance is more towards a 50bps hike to 1.00%. Tightening bias should be maintained while some focuses will be on the rhetoric on Swiss Franc exchange rate.
BoE is expected to raise policy rate by 50bps to 3.50%. Some attention will be on the voting. Last month, only seven MPC members voted for the 75bps hike. Swati Dhingra voted for 50bps, while Silvana Tenreyro voted for 25bps.
ECB should raise the main refinancing rate by 50bps to 2.50%. Additionally, it would announce some key principles regarding quantitative tightening, but the details main only come later, probably at February’s meeting. The new economic projections would also be watched closely on the central banks view on the path of slowing inflation and recession.
Here are some previews for SNB, BoE and ECB:
- SNB Meets But Developments Elsewhere Could Carry More Weight for Swissie
- BoE Set for Another Rate Hike, But Divisions May Widen
- Bank of England Preview
- Bank of England Preview – Back to 50bp as BoE Nears End of Hiking Cycle
- ECB Rate Decision, How Sure is 50bps Hike?
- ECB Preview: Will Lagarde Deliver a Hawkish Surprise?
- Will the ECB Signal the Need for More Rate Hikes?
- ECB Preview – A Hawkish 50bp
