ZURICH, 26th September, 2024 (WAM) -- The Swiss National Bank cut interest rates by 25 basis points on Thursday, its third such reduction this year, as it echoed steps to lower borrowing costs taken by the European Central Bank and U.S. Federal Reserve, Reuters reported.
The SNB cut its policy rate to 1.00 percent, the lowest level since early 2023, as expected by 30 of 32 analysts in a Reuters poll.
Markets had priced in a 55 percent probability of a 25 basis point cut before the decision.