Since the last review of the economic and monetary situation, inflation has fallen more than expected, underlined the Swiss National Bank (archives).
Photo: KEYSTONE/ANTHONY ANEX
The Swiss National Bank (SNB) has reduced its key rate for the third time in a row, taking advantage of the slowdown in inflation in the Confederation. The issuing institute remains ready to act on the foreign exchange market, if necessary.
The Swiss central bank lowered its key rate by 25 basis points to 1.00%, it announced in a press release on Thursday. This is the third monetary easing since last March, when it was still at 1.50%.
This announcement is in line with the expectations of economists interviewed by the AWP agency, who expected a rate between 0.75% and 1.25%. The vast majority of experts aimed for a value of 1%.
Inflationary pressure has once again decreased significantly compared to the previous quarter, in particular due to the appreciation of the franc over the last three months, observes the SNB. The easing of monetary policy decided today takes into account the reduction in inflationary pressure.
The SNB’s decision comes as part of a phase of global monetary easing. The European Central Bank (ECB) lowered its key rates by 25 basis points on September 12 and the American Federal Reserve (Fed) by 50 basis points on September 18.
/ATS
