Following its quarterly monetary policy assessment on Thursday, the Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.75% to1.50%.
Following its quarterlymonetary policyassessment on Thursday, the Swiss National Bank board members decided to cut the benchmark Sight Deposit Rate by 25 basis points from 1.75% to1.50%. The rate decision came in as a surprise to the markets. Summary of the SNB policy statement Momentum on the mortgage and real estate markets has weakened noticeably in recent quarters. However, the vulnerabilities in these markets remain.
For the SNB, price stability means a rise in the Swiss Consumer Price Index of less than 2% per year. How does the Swiss National Bank interest-rate policy affect the Swiss Franc? The Swiss National Bank Governing Board decides the appropriate level of its policy rate according to its price stability objective. When inflation is above target or forecasted to be above target in the foreseeable future, the bank will attempt to tame excessive price growth by raising its policy rate.
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