SNB's Martin: Uncertainty about global economic outlook has increased
|Swiss National Bank (SNB) Vice Chairman Antoine Martin is speaking at the post-policy meeting press conference, explaining the reason behind the surprise rate cut move.
Key quotes
Uncertainty about global economic outlook has increased.
Geopolitical tensions could lead to weaker global economic development.
Political uncertainty in Europe has risen.
Future course of US economic policy is uncertain.
Meanwhile, SNB governing board member Petra Tschudin noted that “Swiss economic growth should pick up slightly next year thanks to monetary easing.”
“Developments abroad are the main risk to swiss economy,” Tschudin added.
Market reaction
USD/CHF was last seen trading 0.50% higher on the day at 0.8885, with traders digesting the SNB’s surprise 50 basis points (bps) rate cut to 0.50%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.