Swiss Economy / Monetary Policy: All Swiss media report on yesterday’s decision by the Swiss National Bank (SNB) to lower the interest rate from 1.75% to 1.5%. In doing so, the SNB is the first Western national bank to change the course after a period of restrictive monetary policy. For most analysts, this comes at surprise, as usually the SNB lets the European Central Bank or the US Treasury making the first step. The SNB justified its decision with the rapidly decreasing Swiss inflation rate (1.2% in February). Tagesanzeiger assesses the SNB’s move as “spectacular but logical”. Instead, NZZ is critical, postulating that there were “no valid reasons” for lowering the interest rate already now. The encouraging inflation trend still needed to stabilize and lower interest rates would only make sense once the ease of inflation is also perceivable in day-to day purchases – which is not yet the case. (ICE BERNA)

Fonte notizia: Press release UE