This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
SNB governing board member Andrea Maechler has stated that the bank is keeping a close eye on the current economic situation, and, that if deemed necessary, the bank will act accordingly.
Their willingness to take action depends on how the current crisis pans out. Will it be short-lived or spiral out of control?
In normal times, we wouldn’t even make a calculated assessment on whether the SNB would opt-in for a rate cut. But times right now are the farthest thing from normal there is.
Central Banks Pledge
Central banks around the world have proceeded with aggressive interest rate cuts this week.
The trend started with the Fed, which cut rates twice in less than 2 weeks by a total of 100 basis points. It then continued with other major central banks, including the RBNZ, RBA, and BOE.
So, will the SNB do their bit and announce an interest rate cut? Let’s turn the clock back a little.
Will They Cut?
The SNB has kept its interest rates at a record low of a negative 0.75% since 2015. Thus, ...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.