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A very dovish 25bp rate cut by the Swiss National Bank
The Swiss National Bank has cut its key rate by 25bp to 1% as expected, given the sharp fall in inflationary pressures. Inflation in Switzerland came in at 1.1% in August, from 1.3% in July, which is within the SNB's target range of 0-2%, but much lower than the SNB had expected. This is due to the fact that the rise in the price of imported goods and services was much weaker than expected following the appreciation of the Swiss franc. The SNB has revised its conditional inflation forecasts downwards considerably. It now expects average inflation to be 1.3% in 2024, 0.6% in 2025 and 0.7% in 2026, which is much lower ... (full story)
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- Posted: Sep 26, 2024 10:28am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,034
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