Swiss Central Bank's Interest Rate Cut: Bullish for Bitcoin?
Originally Published 1 year ago — by Decrypt
The Swiss National Bank (SNB) has cut its benchmark interest rate by twenty-five basis points, diverging from other central banks committed to maintaining elevated rates. This move, driven by inflation below 2%, could signal positive prospects for crypto markets, historically influenced by global macroeconomic policies. While the U.S. Federal Reserve kept its rates unchanged, the SNB's unexpected decision led to decreased Swiss government bond yields and a weakened Swiss Franc. Analysts debate the impact of rate cuts on Bitcoin's price, with some emphasizing other macroeconomic factors as more influential.