SNB, ahead of the end-2027 introduction of the PSFF, has decided to lower the special-rate surcharge from 50bps to 25bps as of July 1st.
Context
The SNB's decision to lower the special-rate surcharge from 50bps to 25bps suggests a more accommodative stance, potentially aiming to support domestic liquidity as the PSFF's introduction approaches. This shift could indicate optimism about economic conditions or a strategic response to recent trends, which may influence expectations for future rate paths and impact the Swiss franc and fixed income markets.
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