PAR FRANCOIS SAVARY, CIO WWW.GENVIL.CH

SNB reduced interest rates by 0.5% Swiss Franc dropped 1% against Euro as a consequence. Should we expect further weakness ?

Why did the SNB reduce rates ?

How much lower can SNB push rates?

Will SNB defend the 90 cents level against the Euro ?

What are consequences for Swiss stocks and which sectors will benefit the most ?

Swiss Re. UBS Volatile week ahead for global stocks. US online sales will show first indications of Black Friday sales. FOMC meeting on Wednesday. 0.25% drop in rates expected. Guidance for end 2025 interest rates expected. Chines retail sales are weak. More stimulus is required. Japanes may be tempted to raise rates a little after promising economic leading indicators