The Swiss National Bank is likely to keep its policy interest rate at minus 0.75% until the end of 2021 at least, according to economists polled by Reuters.
FILE PHOTO: A general view shows the building of the Swiss National Bank in Bern, Switzerland May 20, 2020. REUTERS/Arnd Wiegmann
Some did not expect any change until late 2025, as the SNB faces the high value of the Swiss franc, deflationary risks and sluggish economic growth caused by the coronavirus pandemic. “It is likely the SNB will repeat its message that it is committed to doing whatever is necessary to prevent the rise of the franc, including repeating their readiness to cut interest rates if needed,” said GianLuigi Mandruzzato, an economist at EFG Bank.Although the Swiss franc rose in May to its highest against the euro since July 2015, the safe-haven currency has since weakened against the single currency, giving the SNB some breathing space.
“It will be a boring meeting, but after all the recent turbulence boring is good,” said UBS economist Alessandro Bee.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Swiss economy expected to shrink by worst rate in decadesSwitzerland's economy will suffer its worst downturn in decades during 2020 as the coronavirus pandemic damages output and jobs, the government said on Wednesday, but the downturn will be less severe than initially feared.
Read more »
Swiss govt. expects economy to shrink 6.2% in 2020Switzerland's economy will shrink by 6.2% in 2020, the government said on Tuesday, the worst downturn in more than 40 years, as the country grapples with the consequences of the coronavirus pandemic.
Read more »
Swiss women stage a mass scream over domestic violence, pay gapWomen across Switzerland let loose with screams during a national protest on Sunday, demanding equal treatment and an end to violence at the hands of men.
Read more »
Swiss economy expected to shrink by worst rate in decadesSwitzerland's economy will suffer its worst downturn in decades during 2020 as the coronavirus pandemic damages output and jobs, the government said on Wednesday, but the downturn will be less severe than initially feared.
Read more »
Russia may slash main interest rate as coronavirus takes toll: Reuters pollRussia's central bank is expected to cut its benchmark interest rate by a deeper-than-usual 100 basis points on Friday, as the economy plunges into recession due to still-low oil prices and a lockdown aimed at curbing the spread of the new coronavirus.
Read more »
Swiss govt. expects economy to shrink 6.2% in 2020Switzerland's economy will shrink by 6.2% in 2020, the government said on Tuesday, the worst downturn in more than 40 years, as the country grapples with the consequences of the coronavirus pandemic.
Read more »