Swiss National Bank cuts rates more than expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On December 12, 2024, the Swiss National Bank made necessary changes to the interest rate of the national currency.



The initially forecasted interest rate cut was 0.25%, but unexpectedly, the market saw a cut of 0.50%. The new interest rate is now 0.50%.

The larger-than-anticipated rate cut has had a negative impact on the national currency against the dollar. In Switzerland, GDP growth was modest in the third quarter of 2024. The services sector showed slight growth, while manufacturing declined. Unemployment rose a little, and job growth was slow. Overall, production capacity was used at a typical level.
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