"Swiss National Bank Surprises with Interest Rate Cut, Defying Global Trends"
TL;DR
Swiss National Bank (SNB) chairman Thomas Jordan stated that the rate cut is not a parting gift and emphasized the independence of their decisions from other central banks. The SNB does not provide forward guidance on future interest rates and will reassess the situation in three months. Despite the franc's recent weakening, the SNB may intervene to stabilize the currency if necessary, as they did last year to control imported inflation.
- SNB chairman Thomas Jordan says rate cut is not a parting gift ForexLive
- Swiss central bank cuts rates in surprise move, getting ahead of global peers Reuters
- Surprises: The Bloomberg Close, Europe Edition Bloomberg
- Federal Reserve still foresees 3 interest rate cuts this year despite bump in inflation The Associated Press
- Switzerland becomes first major economy to cut interest rates in surprise move CNBC
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