Swiss Franc Stabilizes After SNB Decision
The Swiss franc held steady around 0.8 per US dollar on Thursday (June 18), but remained near its weakest level in more than two months. This movement occurred as investors assessed the latest decisions by the Swiss National Bank and the Federal Reserve.
The Swiss National Bank maintained its policy interest rate at 0% for the fourth consecutive meeting, in line with market expectations. The central bank stated that the current policy stance still supports price stability and economic growth.
The SNB raised its inflation projections for this year, 2027, and 2028, but maintained its growth projections. The central bank also slightly changed its language, stating that it is more prepared to intervene in the foreign exchange market if necessary.
Meanwhile, the Fed maintained its interest rate but left open the possibility of a hike this year, thus helping to maintain support for the US dollar. Meanwhile, the interim US-Iran agreement to end the war and reopen the Strait of Hormuz has not completely eliminated uncertainty as negotiations towards a final agreement continue. (asd)
Source: Newsmaker.id
