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SNB cuts interest rates

Friday, 27 September 2024 06:30

The Swiss National Bank cut interest rates by a quarter of a percent yesterday at 1%.

The head of the central bank, Thomas Jordan, says inflation is under control. It was 1.1% in August, compared to 1.4% in May. 

He expects inflationary pressure to weaken further due to the rise of the franc and lower oil and electricity prices. 

Swiss share prices rose slightly on the news, there was slight market disappointment as there had been rumours that rates could have been cut by as much as half a percent. 

Now market analysts expect a further cut in December. 

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