Swiss National Bank lowers key interest rate by 0.5%

The Swiss National Bank (SNB) has lowered its benchmark interest rate by a surprisingly hefty 0.5%. The Swiss reference rate now stands at 0.5%. +Get the most important news from Switzerland in your inbox Further interest rate hikes are possible: the SNB will continue to monitor the situation closely, according to the communiqué published on Thursday. + Switzerland navigates own course through inflation maze If necessary, the SNB will adjust its monetary policy to ensure that inflation remains within the price stability range of 0% to 2% in the medium term. If necessary, the SNB is also prepared to remain active on the foreign exchange market. After the last monetary policy assessment, the choice of words was even clearer. At that time, it was stated that further interest rate cuts could be necessary in the coming quarters. The underlying inflationary pressure has decreased again this quarter, according to the current interest rate move. With today's easing of monetary policy, the ...