The Swiss National Bank SNB cut its key interest rate this morning.
March 21, 2024This move was foreseen by only a very small number of analysts. For this reason, the euro-franc exchange rate reacts strongly and the euro strengthens by around one percent compared to the franc within a very short period of time. The interest rate step is a small interest rate step of 0.25%. It remains unclear how the other major central banks will react in the next few weeks.