Swiss National Bank Cuts Interest Rates Again, Signals Further Reductions
September 26, 2024SNB Implements Third Consecutive Rate Cut
The Swiss National Bank (SNB) has lowered its benchmark interest rate by 25 basis points to 1.00%—the lowest since early 2023—in a move that aligns with recent monetary easing by the European Central Bank (ECB) and the U.S. Federal Reserve. This marks the third rate reduction by the SNB this year, a decision anticipated by most analysts in a recent Reuters poll. Prior to the announcement, markets had already priced in a 55% probability of a 25 basis-point cut.
Read MoreSwiss National Bank Set to Cut Interest Rates Again: What to Expect in September
September 23, 2024SNB to Cut Interest Rates by 25 Basis Points
The Swiss National Bank (SNB) is widely expected to reduce its benchmark interest rate by 25 basis points this Thursday, marking the third consecutive rate cut. A majority of economists surveyed by Reuters predict the central bank will bring the rate down to 1.00%, continuing its trend of more modest rate adjustments compared to global peers. The anticipated rate cut comes as inflation in Switzerland remains low, offering the SNB room to ease monetary policy further.
Read MoreSwiss Instant Payments: A Major Step Forward in the Financial Landscape
August 21, 2024The Introduction of Instant Payments in Switzerland
Switzerland has officially launched instant payments, allowing businesses and consumers to perform electronic transactions within seconds, catching up with other leading financial centers in Europe. Instant payments, which process credit transfers within 10 seconds, have been widely adopted across Europe since 2017 and were introduced in the U.S. last year. The launch is expected to revolutionize how payments are made in Switzerland, providing a modern alternative to traditional bank transfers, which can take days to complete.
Read MoreSwiss Franc's Strength Crucial in Keeping Inflation Low, Says SNB’s Jordan
August 20, 2024The Role of the Swiss Franc in Controlling Inflation
Swiss National Bank (SNB) President Thomas Jordan emphasized that the strength of the Swiss franc has been a key factor in maintaining low inflation levels compared to the United States and the euro area. Speaking to business leaders in Schwyz, Switzerland, Jordan highlighted that the stability of the franc prevented price growth from exceeding 3.5% in recent years, a stark contrast to the peaks of 9.1% in the US and 10.6% in the eurozone during 2022.
Read MoreSwiss Franc Hits Record High Against Euro Amid Market Volatility
August 05, 2024The Swiss franc reached its highest level against the euro in nearly a decade on Monday. This surge is attributed to significant losses in stock markets, concerns over U.S. and global economic growth, and rising tensions in the Middle East, driving investors towards this safe-haven currency.
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