SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain

Dhwani Mehta FXStreet

Swiss National Bank (SNB) governing board member Petra Tschudin is addressing the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0.25%.

Key quotes

Expect Swiss unemployment to rise slightly.

Moderate economic activity abroad will have dampening effect on foreign trade.

Domestic demand will benefit from rising wages, and monetary policy easing.

See developments abroad as main risk.

SNB not talking about leaving network for greening the financial system, we are a member and will remain one.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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