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Switzerland becomes the first major economy to unexpectedly cut interest rates

The Swiss National Bank (SNB) opens its offices ahead of an interest rate press conference, Thursday, March 23, 2023, in Zurich, Switzerland.

Bloomberg | Bloomberg | Getty Images

The Swiss National Bank surprised markets on Thursday by announcing its decision to cut its key policy interest rate by 0.25 percentage points to 1.5%, saying domestic inflation is likely to remain below 2% for some time.

“In recent months, inflation has returned to below 2%, which is within the range that the Swiss National Bank considers price stability,” the bank said. “New forecasts suggest that inflation could remain in this range for years to come. “It's very sexual,” he said. .

This breaking news article is being updated.

Summarize this content to 100 words The Swiss National Bank (SNB) opens its offices ahead of an interest rate press conference, Thursday, March 23, 2023, in Zurich, Switzerland.Bloomberg | Bloomberg | Getty ImagesThe Swiss National Bank surprised markets on Thursday by announcing its decision to cut its key policy interest rate by 0.25 percentage points to 1.5%, saying domestic inflation is likely to remain below 2% for some time. “In recent months, inflation has returned to below 2%, which is within the range that the Swiss National Bank considers price stability,” the bank said. “New forecasts suggest that inflation could remain in this range for years to come. “It's very sexual,” he said. .This breaking news article is being updated.
https://www.cnbc.com/2024/03/21/switzerland-becomes-first-major-economy-to-cut-interest-rates-in-surprise-move.html Switzerland becomes the first major economy to unexpectedly cut interest rates

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