Switzerland’s central bank left its key interest rate at zero Thursday, ending a sequence of six straight cuts, despite the threat of slower growth as the economy adjusts to one of the highest tariffs set by President Trump, the Wall Street Journal reported. Investors had mostly expected the decision after comments from officials at the central bank that signaled a reluctance to push the key rate back below zero, where it settled for almost eight years until September 2022.
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Swiss annual inflation held at a low level in August, keeping the country’s central bank on guard as it considers cutting its key interest rate to below zero later this month, the Wall Street Journal reported. Consumer prices were 0.2% higher than the same month of last year, matching July’s rate, Switzerland’s statistics office said Thursday. That remains within the Swiss National Bank’s target of positive inflation lower than 2%. The SNB meets later in September, with most investors currently expecting it to hold its key rate at 0%.
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Chancellor Friedrich Merz offered Germany’s support for Switzerland in its bid to reduce the punishingly high trade levy US President Donald Trump imposed on the export-dependent nation last month, Bloomberg News reported. The 39% tariff Trump slapped on Switzerland is the highest for any developed country and officials in Bern are trying to persuade his administration to accept a new offer by October.
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Switzerland soon hopes to finalise a new business offer for Washington to ease its tariff burden, which will likely include more defence spending and greater access for U.S. energy interests, Reuters reported. Switzerland was stunned when U.S. President Donald Trump this month hit it with one of the highest tariff rates worldwide - 39% - after complaining about the U.S. trade deficit with the country on a call with Swiss President Karin Keller-Sutter.
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Switzerland is intensifying efforts to strengthen its attractiveness as a business location, its government said on Wednesday, after being hit with some of the highest U.S. tariffs worldwide, Reuters reported. Efforts will focus on regulatory relief for Swiss companies, and new rules incurring high costs for businesses could be pushed back, the government said in a statement. U.S. President Donald Trump this month imposed U.S. import tariffs of 39% on Swiss goods, though pharmaceuticals and some other sectors have so far been spared the duties.
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Switzerland is seeing a more than fivefold surge in mergers and acquisitions that’s outpaced most of its European peers, giving bankers hopes for a lucrative payout this year, Bloomberg News reported. The volume of takeovers targeting Swiss companies has jumped 465% to $16.7 billion so far this year, according to data compiled by Bloomberg. Private equity firms are particularly active, with Advent announcing late Sunday it has agreed to acquire Zurich-listed chipmaker U-blox Holding AG in a deal valued at 1.05 billion Swiss francs ($1.3 billion).
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