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Swiss National Bank Holds Rates Steady Amid US Tariff Fallout
Swiss National Bank Holds Rates Steady Amid US Tariff Fallout
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BTCCSquare news:
The Swiss National Bank paused its rate-cutting cycle, maintaining its benchmark rate at 0%—the lowest among major economies—as anticipated by markets. Officials cited modest price increases in recent months as justification for the halt, marking the first unchanged decision after seven consecutive cuts since March 2024.
Trump's 39% August tariffs on Swiss exports have rattled key industries, particularly machinery and watchmaking, prompting Switzerland to suspend US shipments. Bank President Martin Schlegel warned the measures WOULD dampen business activity, forcing a downgrade of 2026 growth forecasts to below 1% from 1-1.5% previously.
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