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.

The decision aligned with the market expectations. 

The SNB has cut the key rate by 50 bps so far this year, emerging as the first major central bank to implement a dovish policy pivot.

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