[Capital Economics: Swiss National Bank Less Likely to Raise Rates Compared to ECB] Jin10 Data, March 13 – Capital Economics economist Andrew Kenningham stated in a report that, given the rise in oil and gas prices and their impact on inflation, the Swiss National Bank is almost certain to keep its policy rate unchanged at zero next week. However, the transmission effect of energy prices on inflation will be relatively mild, and the upward pressure on the Swiss franc will also suppress any inflationary impact. This means the threshold for rate cuts is very high, while the threshold for rate hikes is even higher compared to the European Central Bank. He noted that, amid the current rising risk of rate hikes by the ECB, the Swiss National Bank can maintain a spread of approximately 200 basis points with the ECB without lowering its policy rate.