Newly appointed Swiss National Bank (SNB) president Martin Schlegel made headlines on Tuesday, warning that further rate cuts have not been ruled out. The new head of the SNB officially took the reins of Switzerland’s central bank on Tuesday morning, inheriting a central bank still in the wake of last year’s lopsided management of the merger between 167-year-old Credit Suisse. , and UBS.
Highlights
The service sector is strong and the industrial sector is depressed.
I expect Swiss growth to be moderate in the coming quarters.
The biggest risk to the Swiss economy is developments abroad.
Last week we did not rule out further interest rate cuts.
We cannot rule out negative rates at this time, we do not rule out anything.
The reason for last week’s rate cut was reducing inflationary pressure.
Without the interest rate cut, inflation forecasts would have been slower.
The main problem for Swiss exporters is lower demand abroad.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
