It was a bit of a surprise this morning: the Swiss central bank cut its key interest rate by 25 basis points to 1.5%. This was not necessarily to be expected, as the Swiss economy and inflation rates are relatively stable. The Swiss franc has traditionally been seen as a safe haven, especially for Europeans, especially when the eurozone has once again run into heavy seas with its euro. So why is this the case? It is possible that the Swiss are anticipating the major problems in the eurozone and in this way want to prevent the Swiss franc from rising too sharply when a flight from the euro sets in. Be that as it may, central bank policy is ultimately always the same nonsense, an attempt to conceal from people the true intention of a central bank, the creeping robbery of citizens' purchasing power in favor of the state. So let's stay alert and watch the fiat spectacle from the sidelines.

https://www.bloomberg.com/news/articles/2024-03-21/snb-races-ahead-of-ecb-and-fed-with-rate-cut-to-contain-franc?utm_content=economics&utm_medium=social&cmpid%3D=socialflow-twitter-economics&utm_source=twitter&utm_campaign=socialflow-organic