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SNB Set to Follow Currency Interventions With Interest-Rate Cut
Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The Swiss National Bank may have to step up measures to tame the franc and prevent the currency from appreciating to a damaging level. A rising number of economists expect the SNB to reduce its benchmark interest rate, already the world’s lowest at -0.75%. Data from the central bank suggest it’s recently been intervening after the currency appreciated to the highest since 2017. UBS Group AG, Raiffeisen Schweiz and Bank J. Safra Sarasin are among the institutions now expecting a rate cut of up to 25 basis points by ... (full story)