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Swiss Central Bank Trims Policy Rate; Hints At Further Cuts
The Swiss National Bank reduced its key policy rate by 25 basis points for the third straight meeting and signaled additional easing as the franc's strength had lowered inflationary pressure. At the final rate-setting meeting of Thomas Jordan as chairman, the policy board lowered the policy rate to 1.0 percent from 1.25 percent, as expected.
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vor 56 Tagen
Swiss GDP Growth Accelerates As Estimated
Switzerland's economic growth accelerated in the second quarter as initially estimated on strengthening manufacturing and services output, data from the State Secretariat for Economic Affairs, or SECO, showed on Tuesday. Gross domestic product grew 0.5 percent sequentially after posting 0.3 percent growth in the previous two quarters. The rate came in line with the flash estimate.
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vor 79 Tagen
Swiss Central Bank Lowers Policy Rate By 25 Bps
The Swiss National Bank lowered its key policy rate for the second consecutive meeting on Thursday, citing easing underlying inflationary pressures. The policy board headed by Thomas Jordan decided to cut the policy rate by 25 basis points to 1.25 percent. The new rate will take effect on June 21. The bank had unexpectedly reduced its rate by a quarter point at the March meeting.
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vor 154 Tagen
Swiss GDP Growth Accelerates In Q1
Switzerland's economic growth accelerated in the first quarter on robust private consumption and the rebound in equipment investment, data from the State Secretariat for Economic Affairs, or SECO, showed on Thursday. Gross domestic product posted a quarterly growth of 0.5 percent in the first quarter after an expansion of 0.3 percent each in the previous two quarters.
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vor 175 Tagen
Swiss Central Bank Lifts Minimum Reserve Requirement
The Swiss National Bank raised the minimum reserve requirement for domestic banks, which is set to reduce its payout. The SNB lifted the minimum reserve ratio to 4 percent from 2.5 percent. The bank also made changes to how it calculates the minimum reserve requirements.
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vor 213 Tagen
Switzerland's Central Bank Unexpectedly Cuts Policy Rate
The Swiss National Bank made a surprise interest rate cut on Thursday and became the first major central bank to ease the policy in the current cycle as the fight against inflation over the last two and a half years has been effective. The SNB unexpectedly lowered the policy rate by 25 basis points to 1.5 percent. Markets had expected the bank to keep the rate unchanged.
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vor 245 Tagen
Switzerland's Central Bank Retains Key Rate, Cuts Inflation Outlook
The Swiss National Bank kept its benchmark rate unchanged on Thursday and turned more dovish as it lowered the inflation forecast and altered the policy stance on forex interventions. The SNB Governing Board, chaired by Thomas Jordan, decided to hold the policy rate at 1.75 percent. The SNB policy rate has been raised by a cumulative 2.5 percentage points since June 2022.
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vor 343 Tagen
Swiss Govt Sees "Well Below Average Growth" Next Year
The Swiss economy is set to register well below average growth in 2024 as the weaker momentum in the euro area hurts Swiss exports and higher financing cost curbs investment, the State Secretariat for Economic Affairs, or SECO, said Wednesday. In the economic forecast, the expert group of the SECO said gross domestic product will grow 1.3 percent this year.
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vor 344 Tagen
Swiss Economy Recovers In Q3
Switzerland's economy rebounded in the third quarter underpinned by exports and consumption, official data showed on Friday. Gross domestic product grew 0.3 percent sequentially, in contrast to the 0.1 percent fall in the previous three months, the State Secretariat for Economic Affairs said.
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vor 356 Tagen
SNB Will Not Hesitate To Tighten Policy Further, Jordan Says
The Swiss National Bank will review whether the policy measures take thus far were enough to keep inflation within the target range on a sustainable basis and stands ready to tighten policy further if needed, SNB Chairman Thomas Jordan said Tuesday. "However, we emphasized that price stability may not yet be ensured," Jordan said in a speech.
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vor 373 Tagen
