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The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, marking a potential end to its rate cut cycle amid rising economic uncertainties. Analysts express mixed views, with some anticipating further cuts if inflation trends worsen, while others believe the SNB may pause further reductions, citing stabilized domestic demand and limited monetary policy tools. The decision reflects a cautious approach to navigating geopolitical and trade risks impacting the Swiss economy.
Raiffeisen has appointed Schwendtbauer as the new CEO, effective May 1, succeeding retiring Heinrich Schaller. On the same day, Sandberger will assume responsibility for the corporate customer business and serve as Deputy General Manager, alongside Michaela Keplinger-Mitterlehner, who will continue in her role.
Swiss political parties will continue receiving financial support from banks, as a motion to end such funding was withdrawn after a negative vote in the National Council. Critics, particularly from the left, argue that this practice allows systemically important banks to unduly influence political decisions. Despite calls for reform, the proposal faced significant opposition, as all parliamentary parties benefit from bank donations, with the SVP receiving over CHF 450,000 in 2023 alone.
The Swiss National Bank (SNB) has lowered its key interest rate by a quarter percentage point, continuing its monetary policy despite recent economic tensions. This decision comes amid weak inflationary pressure and increased risks to inflation, with the inflation forecast remaining largely unchanged.
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, signaling a potential end to the cycle of rate cuts among major central banks amid global economic uncertainty. Analysts express mixed views, with some predicting further cuts if disinflation persists, while others believe rates will stabilize, reflecting the SNB's cautious approach to inflation and economic conditions. The next meeting in June is deemed crucial for future policy direction.
Raiffeisen banks in the Canton of Fribourg experienced growth in 2024, maintaining nearly the same performance as the previous year despite a slight profit decline of 0.1% to CHF 17.6 million. With 43 branches, they boast the densest banking network in the region, emphasizing customer proximity, according to Micheline Guerry-Berchier, the new President of the Fédération des banques Raiffeisen Fribourg romand.
Socialist Roger Nordmann and Finance Minister Karin Keller-Sutter emphasize the need for political unity against UBS's influence, advocating for increased equity capital for the bank. While parliament supports this move, concerns arise about potential cost implications for customers, with regional banks poised to benefit if UBS raises prices. The Federal Council backs the capital requirement, asserting it won't necessarily lead to higher costs for Swiss credit operations.
The Swiss National Council is pushing for stricter regulations on systemically important banks like UBS following the Credit Suisse collapse, advocating for increased capital requirements and enhanced FINMA oversight. Experts argue that while existing regulations are robust, effective management and supervision are crucial to prevent future banking crises. Concerns about potential relocations of UBS's headquarters due to regulatory pressures have also been raised, highlighting the delicate balance between oversight and competitiveness.
The National Council has rejected a proposal to ban bank donations to political parties, a move criticized by the Socialist Party (PS) as indicative of the influence banks wield over politics. Despite the PS's efforts to highlight the issue following the Credit Suisse crisis, the debate was brief and largely dismissed by the bourgeois camp, which holds a majority. All Swiss parties, including the PS, have received funding from systemic banks, with the SVP and PLR receiving the most significant amounts.
Raiffeisen banks reported a stable profit of CHF 17.6 million in 2024, matching the previous year's earnings. The institution also experienced significant growth in mortgages, reaching a total of 12.7 billion francs, indicating strong borrowing activity in Fribourg for property purchases and construction.
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