The Swiss National Bank is expected to cut interest rates again according to a Bloomberg survey
- In response to the surge of the Swiss franc after the cap was abandoned
- 26 of 28 economists surveyed said the SNB will loosen policy further
- 22 expect the SNB to cut rates on sight deposits from the current minus 0.75%, concurrent with cuts in benchmark rate
- The deposit rate may to drop as low as minus 1.5 percent, according to the median estimate in the survey
- Other measures the SNB could enact ... nearly a third of respondents said it could link the franc to a basket of currencies, while a fifth suggested the SNB could reduce the exemption threshold financial institutions are granted on the deposit charge
The SNB will set out new economic forecasts at their next monetary policy review on March 19
- Economists expect gross domestic product will probably rise just 0.1 percent this quarter and fall 0.2 percent next
- Growth will resume in the second half of the year, according to the survey
- The economy will expand 0.9 percent in 2015 and 1.3 percent next year
- The projection for this year is just half the pace forecast by the SNB in December
