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

Russian crude oil supply to India shows signs...

March 12, 2025

Bangladesh’s top court rolls back some job quotas...

July 21, 2024

IDF says it ‘eliminated’ Hamas’ military chief Mohammed Deif...

August 1, 2024

Greenland election reignites independence debate as Trump pushes...

March 11, 2025

Has Jerome Powell managed the impossible, or was...

September 21, 2024

Israel not invited to ceremony commemorating 1945 atomic bombing...

August 1, 2024

Narendra Modi: India’s popular but controversial leader seeking...

April 17, 2024

At least seven dead in two Russian strikes...

April 9, 2024

Iran accuses Israel of killing Iranian military commanders...

April 3, 2024

Julian Assange is flying back to Australia after...

June 26, 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

    • Zinc prices rally on US rate cut hopes, despite supply oversupply

      August 27, 2025
    • Mitsubishi exits Japanese offshore wind projects citing soaring costs

      August 27, 2025
    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025

    Categories

    • Business (3,773)
    • Investing (2,787)
    • Latest News (2,050)
    • 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