5 min read Last Updated : Mar 21 2024 | 11:39 PM IST By Bastian Benrath The Swiss National Bank unexpectedly cut its key interest rate by 25 basis points, moving months ahead of global peers as policymakers try to prevent gains in the franc. Officials in Zurich lowered their benchmark...
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Why the Swiss central bank made a surprise cut to its key interest
The Swiss National Bank (SNB) said on Thursday it is trimming its key interest rate, a surprise move that makes Switzerland the first major financial centre to announce a cut in recent months. ADVERTISEMENT Thomas Jordan, the outgoing SNB chairman, credited the central bank’s push to rein in inflation in the wealthy Alpine country. The...