Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
Publishing timestamp: 2024-06-20 07:09:26
Summary
The Swiss National Bank cut its key interest rate by 25 basis points to 1.25%, with two thirds of economists anticipating the move. The country's inflation is expected to remain at 1.4% for the full year 2024. The decision led to a weakening of the Swiss franc, with the Euro and U.S. dollar gaining against it. Some analysts predict further rate cuts, while others believe the SNB is done with monetary policy recalibration for the year. The U.S. Federal Reserve has not made any interest rate reductions yet.
Sentiment: MIXED
Keywords: central banking, economy, us dollar/swiss franc fx spot rate, euro/swiss franc fx cross rate, breaking news: markets, banks, markets, breaking news: economy, business news,