By John Revill BERN (Reuters) -The Swiss National Bank cut its interest rate by 50 basis points on Thursday, its biggest reduction in almost 10 years, responding to weaker than expected inflation in Switzerland and growing uncertainty about the global economy. The central bank flagged tepid price increases, rising risks around future U.S. economic policy...
Tag: SNB
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SNB cuts interest rates by 25 basis points for third time this year
The SNB cut its policy rate to 1.00 per cent, the lowest level since early 2023. Image: Shutterstock 2 min read Last Updated : Sep 26 2024 | 1:23 PM IST The Swiss National Bank cut interest rates by 25 basis points on Thursday, its third such reduction this year, as it echoed steps...
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Switzerland moves towards cashless future with instant payments
The Swiss National Bank said the instant payments system was a ‘commitment to the future of cashless payments’ (FABRICE COFFRINI) Switzerland’s new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live. The Swiss National Bank said around 60 financial institutions...
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Switzerland Central Bank Willing to Expand CBDC Project
The Swiss National Bank is reportedly amenable to expanding its digital currency project. “We would like to see a pilot which develops, with more banks joining and a higher volume of transactions,” said governing board member Antione Martin, whose comments at the the Point Zero Forum in Zurich on Wednesday (July 3) were reported by...
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Swiss financial regulations not yet tough enough post-Credit Suisse: SNB
Switzerland’s financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank said. Photo: Reuters 3 min read Last Updated : Jun 20 2024 | 2:22 PM IST Switzerland’s financial regulations need further strengthening following the takeover of Credit Suisse by UBS, the Swiss National Bank said on...