BOJ Hints at Rate Cut, SNB Ready to Intervene, BOE Warns About Brexit
BOJ Hints at Rate Cut, SNB Ready to Intervene, BOE Warns About Brexit. The U.S. Federal Reserve (Fed) and the European Central Bank (ECB) deemed it necessary to cut rates in September, but other major central banks decided to keep policy on hold. Meanwhile, Swiss National Bank (SNB), Bank of England (BOE) and the Bank of Japan (BOJ) policymakers decided to sit on their hands and watch how their domestic economies unfold given the outside threat of a global economic slowdown. The SNB left its key policy rate and expansionary monetary policy unchanged, but said it “remains willing to intervene in the foreign exchange market as necessary.” The BOE held its policy rate unchanged at 0.75% with a unanimous vote.