SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain

Swiss National Bank (SNB) governing board member Petra Tschudin is addressing the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0.25%.

Key quotes

Expect Swiss unemployment to rise slightly.

Moderate economic activity abroad will have dampening effect on foreign trade.

Domestic demand will benefit from rising wages, and monetary policy easing.

See developments abroad as main risk.