UniCredit analysts predict the Swiss franc will continue to weaken and the Swiss National Bank may cut interest rates further

According to Jin Ten, analysts at UniCredit Bank said in a report that the Swiss franc will continue to weaken and the Swiss National Bank may further cut interest rates. The Swiss franc is expected to remain at 0.91 against the US dollar and around 0.99 against the euro. Analysts said: "The market is currently only fully pricing in the Swiss National Bank to cut interest rates by another 25 basis points in September, and the probability of a rate cut in June is about half." In March this year, the Swiss National Bank fired the first shot of interest rate cuts by developed market central banks.