Swiss Central Bank Cuts Rates, Getting Ahead of Global Peers The Swiss National Bank (SNB) reduced its main interest rate by 25 basis points to 1.50%, setting a precedent as the first major central bank to reverse the trend of tightening monetary policy initiated to combat inflation. This decision, marking the SNB’s first rate cut in nearly a decade, was announced under the tenure of Chairman Thomas Jordan shortly before his planned departure in September. The cut was also applied to the interest rate on sight deposits. The move came ahead of decisions by other European central banks, including the Bank of England and the Norwegian central bank, which held their rates steady, underscoring the SNB’s proactive stance in adjusting monetary policy. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts U.S. Dollar Weakness Propels Copper to Six-Week High READ MORE HSBC Predicts High Commodity Prices in 2024, Decline Expected in 2025 READ MORE Economic Recession and Yen Depreciation Push Japan Behind Germany READ MORE The Ticking Debt Bomb: How to Safeguard Your Investments from the Inevitable READ MORE Elections and Political Uncertainty – Critical drivers of Gold Demand and the Gold Price READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment