SNB's Martin: Inflationary pressure should continue to ease gradually over next quarters

Swiss National Bank (SNB) Vice Chairman Antoine Martin is speaking at the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0.25%.

Key quotes

Inflationary pressure should continue to ease gradually over next quarters, particularly in Europe.

High level of uncertainty around trade policy likely to weigh on investment.

Increasing trade barriers could weaken global economic development.

Scenario for global economy subject to high uncertainty.

Inflation in the US is expected to remain elevated.

More expansionary fiscal policy in Europe could provide stimulus in the medium term.

Market reaction

USD/CHF was last seen trading 0.33% higher on the day at 0.8812, with traders digesting the SNB’s expected interest rate decision.