The Swiss National Bank (SNB) has cut its key interest rate by 25 basis points to 1.00% for the third time in succession, the Swiss central bank announced on Thursday. The SNB remains ready to act on the foreign exchange market if necessary.
The Swiss central bank lowered its key interest rate by 25 basis points to 1.00%, it announced in a press release on Thursday. This is the third monetary easing since last March, when it was still at 1.50%.
This announcement was in line with the expectations of economists surveyed by AWP, who were forecasting a rate of between 0.75% and 1.25%. The vast majority of experts were aiming for 1%.
According to the SNB, inflationary pressure has once again fallen sharply compared with the previous quarter, due in particular to the appreciation of the Swiss franc over the past three months. Today’s decision to ease monetary policy takes account of this reduced inflationary pressure.
The SNB’s decision comes against a backdrop of global monetary easing. The European Central Bank (ECB) cut its key rate by 25 basis points on September 12, and the US Federal Reserve (Fed) by 50 basis points on September 18.
Source : la Tribune de Genève
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