American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Latest News

Swiss National Bank lowers interest rates by 25 basis points amid inflation decline

by admin September 26, 2024
September 26, 2024

In a decisive move to stimulate the economy, the Swiss National Bank (SNB) has announced a reduction of its key interest rate by 25 basis points, bringing it down to 1.0%.

This marks the third cut in 2024 and aligns with broader trends observed in major Western economies, as central banks respond to softening inflation rates and economic conditions.

The SNB’s decision was anticipated by 30 of 32 analysts in a Reuters poll, reinforcing expectations of a more accommodating monetary policy.

Since it was the first major Western central bank to initiate rate cuts back in March, the SNB has continued its trend of easing, reflecting a shift in monetary strategy to support economic growth.

In conjunction with the SNB’s announcement, both the European Central Bank (ECB) and the US Federal Reserve recently indicated similar intentions.

Just last week, the Fed implemented a significant 50-basis-point cut, further highlighting a coordinated effort among central banks to navigate economic challenges.

Swiss inflation remains remarkably low, with the latest figures revealing a mere 1.1% annual increase for August.

The SNB has pointed out that the appreciation of the Swiss franc has played a critical role in reducing inflationary pressures, prompting this latest interest rate adjustment.

As a direct consequence of the SNB’s rate cut, the Swiss franc strengthened against major currencies.

Both the US dollar and the euro experienced declines, falling by approximately 0.14% and 0.16% against the Swiss currency, respectively.

In a statement, the SNB acknowledged the decrease in inflationary pressure compared to the previous quarter, attributing part of this decline to the currency’s recent rally.

The central bank noted,

The SNB’s easing of monetary policy today takes the reduction in inflationary pressure into account. Further cuts in the SNB policy rate may become necessary in the coming quarters to ensure price stability over the medium term.

As the global economic landscape evolves, market participants will closely monitor the SNB’s future actions and any additional rate cuts that may be on the horizon, as the bank aims to maintain stability in the Swiss economy.

The post Swiss National Bank lowers interest rates by 25 basis points amid inflation decline appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Qualcomm stock price analysis: technicals point to a big dive
next post
Moody’s stock has it all, but has one potential risk

Related Posts

US refiners brace for disruption as tariffs threaten...

February 15, 2025

US may ease Russia sanctions if Moscow agrees...

February 21, 2025

Why Trump’s advisers are putting Wall Street first,...

February 20, 2025

Why Mexico’s election is more important than ever...

June 2, 2024

The US economy keeps growing, but for how...

December 22, 2024

London’s famous Garrick Club votes to allow women,...

May 10, 2024

CIA to dismantle diversity programs in biggest restructuring...

February 21, 2025

Ultra-rare, bizarre-looking blind mole photographed in Australia

April 10, 2024

Flies, mosquitoes, raw sewage and mountains of garbage...

June 17, 2024

China opens Chancay port in Peru, boosting influence...

November 17, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • Interview: Strategic location gives Brazil Potash cost advantage in domestic fertiliser market, says CEO Matt Simpson

      June 1, 2025
    • Canada’s Q1 GDP expands by 2.2%, driven by exports spike ahead of potential US tariffs

      June 1, 2025
    • President Trump to host farewell for Elon Musk as DOGE leader steps away

      June 1, 2025
    • UK’s digital banks face divergent fortunes: Starling stumbles, Monzo and Revolut soars

      June 1, 2025
    • Trump wants Apple to shift iPhone production from India to the US: here’s what it means

      May 18, 2025

    Categories

    • Business (3,012)
    • Investing (2,455)
    • Latest News (1,994)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved