Global central banks break synchronization: Swiss National Bank cuts rates again


Quick
Take

Data
from

Trading
Economics
shows
that
on
June
20,
the
Swiss
National
Bank
once
again
cut
its
benchmark
interest
rate
by
25
basis
points,
bringing
it
down
to
1.25%.
This
marks
the
second
consecutive
rate
cut
by
the
Swiss
Central
Bank,
mirroring
similar
moves
in
the
Euro
Area
and
Canada.
The
Euro
Area
also
recently
cut
its
interest
rates
by
25
basis
points,
reducing
them
from
4.5%
to
4.25%,
while
Canada
has
lowered
its
rates
from
5%
to
4.75%.

In
contrast,
Japan
has
taken
a
different
approach.
Back
in
March,
Japan
raised
its
interest
rates
for
the
first
time
since
2008
to
tackle
inflation
and
a

How To Get Free Crypto  

weakening
currency.
The
Bank
of
England
maintained
its
current
rates
at
5.25%
on

June
20,
despite
headline
CPI
inflation
dropping
to
2.0%,
meeting
the
central
bank’s
target,
while

core
inflation
remains
at
a
challenging
3.5%,
according
to
Trading
Economics
data.

Meanwhile,
the
US

Federal
Reserve
maintains
its
federal
funds
rate
at
5.25-5.5%,
with
no
signs
of
a
cut
expected
until
at
least
Q3
2024.
This
diverse
range
of
monetary
policies
highlights
a
significant
departure
from
the
usual
synchrony
among
central
banks,
which
often
follow
the
Federal
Reserve’s
lead.
Each
nation
is
now
addressing
its
unique
economic
challenges,
including
rising
unemployment,
in
this
new
era
of
independent
monetary
policy
decisions.

Country Last Previous Reference
Japan 0.1 0.1 Jun/24
Switzerland 1.25 1.5 Jun/24
Singapore 3.42 3.53 Apr/24
China 3.45 3.45 Jun/24
South
Korea
3.5 3.5 May/24
Euro
Area
4.25 4.5 Jun/24
Australia 4.35 4.35 Jun/24
Canada 4.75 5 Jun/24
United
Kingdom
5.25 5.25 May/24
United
States
5.5 5.5 Jun/24
Saudi
Arabia
6 6 Apr/24
Indonesia 6.25 6.25 Jun/24
India 6.5 6.5 Jun/24
South
Africa
8.25 8.25 May/24
Brazil 10.5 10.5 Jun/24
Mexico 11 11 May/24
Russia 16 16 Jun/24
Argentina 40 50 Jun/24
Turkey 50 50 Jun/24

Source:
Trading
Economics

However,
Bitcoin
maintains
a
predictable
monetary
policy,
with
an
inflation
rate
of
approximately
0.8%
and
an
issuance
rate
of
around
450
BTC
produced
daily.

Go to Source
Author: James Van Straten


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