Economy update
The Swiss National Bank kept the cost of borrowing unchanged at 0% refusing to implement negative rates due to uncertainties caused by US tariffs. German economic institutes revised the country’s 2025 growth upwards to 0.2%. US 2Q core PCE is expected to be 2.5% and initial jobless claims 235,000. Tomorrow will see the release of the pivotal monthly inflation figures. Stock market rally takes a breather as investors assess the possibility and the extent of future rate cuts.
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