Core Points - The Swiss National Bank (SNB) has decided to maintain the benchmark interest rate at 0%, marking the end of a series of six consecutive rate cuts since March 2024 [1][3][5] - The SNB is prepared to lower rates below zero if mid-term inflation exceeds the price stability range [4][5] Monetary Policy - The SNB's current monetary policy aims to control inflation within the target range of 0% to 2% and support economic growth [3][4] - The SNB has not observed significant changes in inflation pressure compared to the previous quarter [3][4] - The SNB has previously implemented negative interest rates from December 2014 to September 2022, which raised concerns among savers and pension funds [4][5] Economic Outlook - The SNB forecasts Switzerland's GDP growth for 2025 to be between 1% and 1.5%, with inflation expected at 0.2% [4][6] - The global economic growth is anticipated to slow down due to U.S. tariffs and ongoing high uncertainty [6][7] - The Swiss economy has shown signs of weakness, with a GDP growth of only 0.5% in the second quarter following strong growth in the first quarter [7] Trade and Tariffs - The imposition of high tariffs by the U.S. on Swiss goods has significantly impacted the Swiss economy, particularly affecting exports and investments [7][8] - Nearly 60% of Swiss exports to the U.S. are expected to be affected by the new tariffs, which have been described as unprecedented [7][8] Public Sentiment - A recent poll indicates that a majority of Swiss citizens oppose making concessions to the U.S. regarding tariffs, with many preferring to rely more on domestic products [8]
暂停降息,这国央行宣布
Zheng Quan Shi Bao·2025-09-25 14:49