The Swiss National Bank (SNB) offices ahead of the bank’s rate announcement news conference in Zurich, Switzerland, on Thursday, March 23, 2023.
Bloomberg | Bloomberg | Getty Images
The Swiss National Bank on Thursday surprised the market with a decision to lower its main policy rate by 0.25 percentage points to 1.5%, saying national inflation is likely to stay below 2% for the foreseeable future.
“For some months now, inflation has been back below 2% and thus in the range the SNB equates with price stability. According to the new forecast, inflation is also likely to remain in this range over the next few years,” the bank said.
This breaking news story is being updated.
Read the full article here
