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  • Swiss National Bank eases monetary policy and lowers SNB policy rate to 0.5%

    From snb.ch Story is in PDF Format

    The Swiss National Bank is lowering the SNB policy rate by 0.5 percentage points to 0.5%. The new policy rate applies from tomorrow, 13 December 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 0% above this threshold. The SNB also remains willing to be active in the foreign exchange market as necessary. Underlying inflationary pressure has decreased again this quarter. The SNB’s easing of monetary policy today takes this development into account. The SNB will continue to monitor the situation closely, and will adjust its monetary policy if ... (full story)

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Dollar is getting stronger every day but this time not because a strong us economy. Welcome anyway!
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Swiss have always been clever and if they are jumbo cutting by that much they know a global recession is coming and they are preparing their economy already by being more competitive and move investment back to Switzerland
wooh yesss
chaos is just unknown order
Very clever move.
Quoting MatTrader101
Swiss have always been clever and if they are jumbo cutting by that much they know a global recession is coming and they are preparing their economy already by being more competitive and move investment back to Switzerland
Clever yes, but there is no recession, they want to push the CHF lower I guess. look at CHF against all the currencies it is at all time strong except the $.
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SNB is the most secretive major central bank. Always expect the unexpected with SNB. The most misses on rate hikes and cuts were/are with SNB.

Cutting by 50bps is definitely a signal that we're in deep shit and that global economy is slowing down significantly.

They'll slash rates to 0% and perhaps will even go back to negative rates soon.

Cutting cycle is picking up the pace and am expecting other banks to follow suit soon.

Cutting rates is an emergency monetary policy for those who don't already know that. Emergency monetary policy! Let that sink in!
Quoting Abouelzelouf
{quote} Clever yes, but there is no recession, they want to push the CHF lower I guess. look at CHF against all the currencies it is at all time strong except the $.
Wrong. Recession is already here. Hence the jumbo cut. They want to weaken their currency in order to increase exports to boost their productivity.

Strong economy and strong currency is great. Weak economy and strong currency is a disaster.
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Well said MatTrader101
So the SNB borrows and invests in US stocks .
Quoting MatTrader101
{quote} Wrong. Recession is already here. Hence the jumbo cut. They want to weaken their currency in order to increase exports to boost their productivity. Strong economy and strong currency is great. Weak economy and strong currency is a disaster.
Great! And that's exactly what's happening with the american economy: it's weak and the dollar is strong. The recession is here.
Quoting moisesfx7
{quote} Great! And that's exactly what's happening with the american economy: it's weak and the dollar is strong. The recession is here.
What are you talking about America economy is the strongest at this moment in comparison to any other country you want to pick.
The solution is (x).
Quoting Momofrmnyc
{quote} What are you talking about America economy is the strongest at this moment in comparison to any other country you want to pick.
Have you been following the global economy? The US isn't an island. The US dollar is only strong because the Eurozone and Japanese economies are getting weaker. It is only a matter of time before the US economy enters a recession.
Quoting moisesfx7
{quote} Have you been following the global economy? The US isn't an island. The US dollar is only strong because the Eurozone and Japanese economies are getting weaker. It is only a matter of time before the US economy enters a recession.
Once again in comparison to any other country you want to pick vs USA. Regardless of your opinion they're actual stats and facts that prove USA being the strongest economy in comparison to others.
The solution is (x).
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    SNB: Introductory remarks by the Governing Board

    From snb.ch|Dec 12, 2024|4 comments

    Ladies and gentlemen On behalf of the Governing Board, it is my pleasure as Chairman to welcome you to the SNB’s news conference. After our introductory remarks, we will take questions from journalists as usual. Monetary policy decision I will begin with our monetary policy decision. We have decided to lower the SNB policy rate by 0.5 percentage points to 0.5%. The new policy rate applies from tomorrow, 13 December 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 0% above this threshold. We also remain willing to be active in the foreign exchange market as necessary. Underlying inflationary pressure has decreased again this quarter. With today’s easing of monetary policy, we are taking this development into account. We will continue to monitor the situation closely, and will adjust our monetary policy if necessary to ensure inflation remains within the range consistent with price stability over the medium term. Inflation forecast Allow me to address the development of inflation in more detail. Inflation in the period since the last monetary policy assessment has again been lower than expected. It decreased from 1.1% in Augu post: SNB CHAIRMAN STATES: TODAY'S CUT PREVENTED A LOWER INFLATION FORECAST. post: SNB CHAIRMAN: FUTURE INFLATION PATH UNCERTAINTY REMAINS HIGH

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