Swiss National Bank eases monetary policy and lowers SNB policy rate to 1.25%

Swiss National Bank eases monetary policy and lowers SNB policy rate to 1.25%

From snb.ch

The Swiss National Bank is lowering the SNB policy rate by 0.25 percentage points to 1.25%. The change applies from tomorrow, 21 June 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 0.75% above this threshold. The SNB is also willing to be active in the foreign exchange market as necessary. The underlying inflationary pressure has decreased again compared to the previous quarter. With today’s lowering of the SNB policy rate, the SNB is able to maintain appropriate monetary conditions. The SNB will continue to monitor the development of ... (full story)

Added at 3:35am

SNB: WE ARE ALSO WILLING TO BE ACTIVE IN THE FOREIGN EXCHANGE MARKET AS NECESSARY.
— FinancialJuice (@financialjuice) June 20, 2024

Added at 3:35am

SNB: A RENEWED INCREASE IN GEOPOLITICAL TENSIONS COULD RESULT IN WEAKER DEVELOPMENT OF GLOBAL ECONOMIC ACTIVITY.
— FinancialJuice (@financialjuice) June 20, 2024

Added at 3:35am

SNB: THE FORECAST FOR SWITZERLAND, AS FOR THE GLOBAL ECONOMY, IS SUBJECT TO SIGNIFICANT UNCERTAINTY. DEVELOPMENTS ABROAD REPRESENT THE MAIN RISK.
— FinancialJuice (@financialjuice) June 20, 2024

Added at 3:35am

SNB: INFLATION IN SWITZERLAND IS CURRENTLY BEING DRIVEN ABOVE ALL BY HIGHER PRICES FOR DOMESTIC SERVICES.
— FinancialJuice (@financialjuice) June 20, 2024

as expected CHF will be weak as there is nothing to do with high intrest rate. good job CHF inflation down and all good for rate cuts

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