Swiss Franc Drops as National Bank Cuts Rates

USDCHF Analysis – The Swiss franc fell below 0.895 against the US dollar, hitting its lowest point since November 13th. This drop came unexpectedly after the Swiss National Bank decided to lower interest rates, something it hadn’t done in nine years.

During its March meeting, the bank cut its primary interest rate by 0.25% to 1.50%, becoming the first big central bank to relax its monetary policy to tackle inflation. This change occurred as inflation in Switzerland went down to 1.2% in February, staying within the SNB’s desired range of 0-2% for the ninth month in a row.

Swiss Franc Drops as National Bank Cuts Rates