[ad_1]
The Swiss National Bank made its third move to ease monetary policy this year by reducing its key interest rate by 25 basis points to 1.0%. This adjustment, widely expected by analysts, is the third interest rate cut of 2024. Following signals from other central banks like the European Central bank and the U.S. Federal Reserve, the SNB took action in response to subdued domestic Inflation. The Swiss franc strengthened against major currencies following the rate cut, prompting concerns from local businesses about the impact on exports. The SNB cited the Swiss franc’s appreciation as a significant factor in its decision to reduce rates to address inflationary pressures. Analysts predict further rate cuts in the future to ensure price stability. SNB Chairman Thomas Jordan downplayed deflation risks, stating that Inflation forecasts remain within the target range. However, economists speculate that the SNB may consider foreign exchange interventions as rates approach 0.5%.
[ad_2]
SOURCE
Lucas Bennett, completed his Finance degree at Bocconi University in Italy in 2018. He is highly skilled in corporate finance and risk management, beginning his career at a hedge fund in Milan. Lucas expertise extends to consulting for leading European firms, particularly within the energy markets sector. His analytical skills and strategic mindset have made him a sought-after consultant, and he continues to explore new opportunities within the financial services industry across Europe.
