The Swiss National Bank surprised Economists by cutting rates for the second time in a row. Citing a number of potential worries starting with more recession, the rate cuts are aligned with growing dollar troubles roiling the rest of the world. Major currencies are sinking fast, hitting new lows and pointing toward the same reasoning just acted on in Switzerland.
Eurodollar University’s Money & Macro Analysis
Bloomberg SNB Silence Sets Up Another Rate-Cut Cliffhanger
https://www.bloomberg.com/news/articles/2024-06-19/swiss-national-bank-interest-rate-cuts-central-bank-silence-sets-up-cliffhanger
Switzerland Economic forecast largely unchanged: Swiss growth in 2024 to be below average
https://www.admin.ch/gov/en/start/documentation/media-releases.msg-id-101432.html
SNB Monetary Policy Assessment June 20, 2024
https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20240620
CNBC Switzerland makes second interest rate cut as major economies diverge on monetary policy easing
https://www.cnbc.com/2024/06/20/switzerland-trims-key-interest-rate-to-1point25percent-in-second-cut-of-the-year.html
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