Market News
Swiss Franc Rises After Central Bank Opts for Smaller Rate Cut - WSJ
The Swiss franc strengthened after Switzerland's central bank opted for a standard-size rate cut, rather than the 0.5-percentage-point slice some analysts expected. The Swiss National Bank's third cut in a row takes benchmark interest rates to 1%, from 1.25%. The SNB was the first central bank among wealthy economies to kick off its easing campaign, in March. The franc has since gained against the dollar, after an initial selloff.
