Thu, 26 Sep 2024 08:31:05 GMT
SNB cuts interest rate
The Swiss National Bank has reduced its Policy Rate from 1.25% down to 1.00%. The rate cut was expected.
Due to this reason, the Swiss Franc did not lose value. Moreover, algorithmic traders sold off the rate after the announcement. However, an hour after the rate reveal, the rate returned to trade near 0.8500.