SNB and Riksbank Keep Rates Steady, Hint at Future Hikes

The Swiss National Bank (SNB) and the Swedish Riksbank made their interest rate decisions, leaving them unchanged at 0% and 1.75% respectively.

The SNB's statement was cautious and slightly dovish, indicating a potential for a rate hike in the future due to increasing inflationary pressures.

The bank acknowledged that a weaker franc could lead to higher import costs and potentially more inflation, but removed its previous wording about an increased willingness to sell the franc, suggesting a lower propensity to intervene in the FX market.

Meanwhile, the Riksbank signaled a possible rate hike later this year if inflation stabilizes around 2% and the economy continues to recover.