The Swiss National Bank decided to cut the interest rate by 25 basis points on Thursday morning to bring the key interest rate to 1.50%, and Jordan is scheduled to step down as president of the Swiss central bank next September, he said during a press conference today.
- We always make courageous decisions during our tenure.
- Our decisions are independent of what other central banks do.
- Easing monetary policy in Switzerland was possible because the fight to curb inflation was effective.
- Inflation is likely to continue to move within the SNB's target range over the next few years. - Peak prices fell at a rapid pace compared to where it was forecast last December.
- Economic growth in Switzerland is likely to moderate in the coming quarters.
- Weak external demand and the strength of the franc weakened the impact. The Swiss National Bank will adjust monetary policy again if necessary.
- The degree of uncertainty remains high.
- We do not provide any forward guidance on future interest rates, we will see where we are in 3 months.
- The reduction of interest rates today is 100% consistent with our framework.
