SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain
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%.
Key quotes
Higher US tariffs will likely curb global trade.
Global economic outlook has deteriorated due to higher trade tensions.
US inflation likely to rise; inflation in Europe likely to fall.
Swiss economy grew strongly in Q1, mainly due to exports to the US being brought forward.
Global economic growth will weaken in coming quarters.
Global outlook subject to high uncertainty.
Expect Swiss economic growth to slow, and be subdued in rest of 2025.
Economic outlook for Switzerland uncertain, developments abroad are main risk.
We have not changed our implementation of policy with interest rates at 0%.
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.
