The Swiss central bank cut rates 25 basis points. They are getting ahead of the rest of the world according to them.
What is the reason? They cited weakness abroad (which everyone is saying).
The Swiss central bank cut rates 25 basis points. They are getting ahead of the rest of the world according to them.
What is the reason? They cited weakness abroad (which everyone is saying).
interesting. Japan just raised rates.
and the US held steady.
Mixed signals?
Yes. And the Swiss have it right. The announcement basically said the bank was getting ahead of the others. This means it expects other central banks to follow suit.
The obsession with inflation is causing the issue, something that can reverse quickly. What doesnt reverse is softening of demand.
The BOJ raised when their exporters are down 25% in February.
Of course, they were basically negative. The ECB also have admitted the economy is weak especially with exports.
A weaker world economy and slowdown in global trade means we see dominos falling across the world.