On 20 June 2024, the SNB decided to lower its policy rate by 0.25 percentage points to 1.25%. With its decision, the SNB took into account the further reduction in inflationary pressure quarter-on-quarter. Without this rate cut, the conditional inflation forecast would have been lower than in March. • Global economic growth was solid in the first quarter of 2024, and is likely to pick up somewhat further in the coming quarters. Although inflation moved sideways over the past months, and remained above central banks’ targets in many countries, underlying inflationary pressure continued to decline slightly. Against ... (full story)