Switzerland SNB Interest Rate Decision in line with forecasts (1%)

Sep 26, 2024

SNB lowers Sight Deposit Rate by 25 bps to 1.0%, as expected

The Swiss National Bank (SNB) announced on Thursday that it lowered the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.25% to 1.00% after concluding its quarterly monetary policy assessment.

USD/CHF faces sharp sell-off near 0.8500 as SNB cuts interest rates by 25 bps to 1%

The USD/CHF pair drops sharply from the psychological resistance of 0.8500 in Thursday’s European session.