Swiss Inflation Steady as SNB Considers Next Rate Cut
August 04, 2024Overview of Swiss Inflation Trends
Swiss inflation remained stable in July, indicating potential further easing from the Swiss National Bank (SNB). Consumer prices increased by 1.3% compared to the previous year, aligning with economists' predictions and falling below the SNB’s forecast of 1.5% for the third quarter.
Read MoreEuro Slumps Against Swiss Franc After French Elections
July 08, 2024Impact of French Elections on the Euro
The euro experienced a notable slump on Monday morning against the Swiss franc and, to a lesser extent, the US dollar, following a surprising electoral outcome in France. The Rassemblement National, led by Marine Le Pen and Jordan Bardella, lost the second round of legislative elections to the Nouveau Front Populaire. Additionally, the far-right was defeated by President Emmanuel Macron’s Ensemble party. At 08:46, the euro had declined by 0.22% against the franc, trading at 0.9687 EUR/CHF, and by 0.11% against the dollar, at 1.0828 EUR/USD.
Read MoreSwiss National Bank Confident in Inflation Control
July 08, 2024SNB President Thomas Jordan on Inflation Prospects
Swiss National Bank (SNB) President Thomas Jordan recently expressed confidence in Switzerland’s inflation outlook. Speaking to Le Temps, Jordan highlighted that officials are “relatively comfortable” with the country’s inflation prospects, especially after recent data showed a surprising weakening in annual consumer price growth for June.
Read MoreFederal Council Appoints Martin Schlegel as New SNB Chairman
June 26, 2024Leadership Changes at the Swiss National Bank
The Federal Council has announced key leadership changes at the Swiss National Bank (SNB). As anticipated, Martin Schlegel has been appointed as the new Chairman, while Petra Tschudin joins as a new member of the Governing Board. Antoine Martin will succeed Schlegel as Vice-Chairman. Schlegel will replace Thomas Jordan, who has led the SNB since April 2012 and will step down at the end of September 2024.
Read MoreSwiss National Bank Lowers Policy Rate Amid Declining Inflation Pressure
June 20, 2024June 20, 2024 - The Swiss National Bank (SNB) announced on Thursday that it has reduced its main policy rate by a quarter of a percentage point, lowering it from 1.5% to 1.25%. This decision was driven by a drop in "underlying inflationary pressure," despite increases in costs for rents, tourism services, and oil products.
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