SNB cuts Deposit Rate to 1.25%, as expected

Momentum on the mortgage and real estate markets in recent quarters has been weaker than in previous years.

Also willing to be active in the foreign exchange market as necessary.

The utilisation of overall production capacity was normal.

A renewed increase in geopolitical tensions could result in weaker development of global economic activity.

Able to maintain appropriate monetary conditions.

Will adjust its monetary policy if necessary to ensure inflation remains within the range consistent with price stability over the medium term.

Monetary policy remains restrictive in manycountries.

Inflation in Switzerland is currently being driven above all by higher prices for domestic services.

Global economic growth was solid in the first quarter of 2024.

The forecast for Switzerland, as for the global economy, is subject to significant uncertainty.developments abroad represent the main risk.

SNB sees 2025 inflation at 1.1% (previous forecast was for 1.2%) (removes extraneous letters).

SNB sees 2024 swiss growth at around 1% (previous forecast was for around 1.0%).

SNB sees Q1 2027 inflation at 1.0%.

SNB sees 2024 inflation at 1.3% (previous forecast was for 1.4%).

SNB sees 2026 inflation at 1.0% (previous forecast was for 1.1%).