The Swiss National Bank (SNB) is expected to raise interest rates by another 25 bps from 1.75% to 2% this Thursday. This move is part of SNB's efforts to increase interest rates in order to maintain the stability of the Swiss Franc, even though the country's inflation rate remains below the 2% target.

Switzerland's trade balance data for August showed a surplus of 4.054 billion Swiss Francs, an increase from the previous figure of 3.132 billion Swiss Francs, despite the country's GDP not growing.

The U.S. Federal Reserve (FED) is expected to keep interest rates unchanged at its policy meeting this month. However, investors remain concerned that the FED may raise interest rates by another 25 bps by the end of 2023, which would further strengthen the value of the U.S. Dollar.

In addition, U.S. Secretary of State Antony Blinken met with Chinese Vice President Hu Jintao outside the United Nations General Assembly, and the trade tensions between the U.S. and China could benefit the Swiss Franc.

Source: Fxstreet