According to Bloomberg's latest survey of economists (10 to 16 August)
- Previous forecast was for the SNB to move in Q4 2019
There were less respondents to the survey this time around so that could have affected the median outcome. But as mentioned last month, the SNB is to maintain its language and guidance as long as the ECB maintain theirs.
Hence, if the ECB sticks to the timeline of "through the summer of 2019" it means that the SNB may very well have to wait until then before committing to any policy normalisation too. Q4 2019 at this point looks to be a more realistic timing for that all things considered.
