The Swiss National Bank is at the forefront of a significant turnaround in interest rates, prompting recent cuts. Bernd Hartmann, Head of Research at VP Bank, discusses the factors leading to these changes, potential future developments, and the anticipated impact of the cuts on the economy.
The US Federal Reserve has initiated its easing cycle with a 50 basis point rate cut, reducing the target range to 4.75-5%. Private banks are advising investors to embrace more risk, particularly in equities, while suggesting a shift from cash to high-quality bonds. However, the trajectory of future rate cuts may be influenced by the upcoming presidential election.
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