The Swiss National Bank (SNB) cut the interest rate by 0.25 percentage points to 1.25% in June, aligning with market expectations and the bank's policy path. Current core inflation pressures have eased, while the Swiss franc has shown strong appreciation.
• Policy Rate: Reduced to 1.25%
• Inflation Rate Forecast: 1.3% for 2024, 1.1% for 2025, 1.0% for 2026
• Gross Domestic Product: Expected to be 1% in 2024, rising to 1.5% in 2025
• Canadian Dollar: Expected to rise slightly
• Swiss Franc: Decreased by 0.5%, currently close to 0.89 against the US dollar
Despite the political turmoil in France strengthening the franc, the Swiss National Bank remains committed to maintaining favorable monetary conditions, with domestic service prices being the main driver of inflation.
Follow Ultima Markets for the latest market insights!
#UltimaMarkets#NewsUpdate#TradingNews#MarketWatch#SwissFranc#Franc#FrancToUSD#GDP#GrossDomesticProduct#InflationRate#CurrencyPair#Forex#ForexTrading#CentralBank#InterestRate
