The Swiss National Bank surprises the market by cutting its main policy rate by 0.25 percentage points to 1.5%, becoming the first advanced economy to do so. The bank cites low inflation and predicts it will remain below 2% in the coming years. This decision comes amidst high inflationary pressures and the impact of the Covid-19 pandemic and Russia's war in Ukraine.
The Swiss National Bank surprises the market by cutting its main policy rate by 0.25 percentage points to 1.5%, becoming the first advanced economy to do so. The bank cites low inflation and predicts it will remain below 2% in the coming years.
This decision comes amidst high inflationary pressures and the impact of the Covid-19 pandemic and Russia's war in Ukraine.
Swiss National Bank Interest Rates Inflation Advanced Economy Covid-19 Russia Ukraine
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