MARKET OUTLOOK - Swiss National Bank Doesn't Need to Cut Rates Significantly

Foreks - In a note written after the Swiss National Bank surprised consensus with a half-point rate cut, Melanie Debono from Pantheon Macroeconomics stated that the Bank may not have to reduce borrowing costs much further. Most analysts were expecting a more cautious quarter-point cut. Debono suggests that the Swiss National Bank's move will likely be followed by more easing, but it will be minimal. Pantheon expects the SNB to implement another quarter-point rate cut in March.