新加坡元/瑞郎 (SGDCHF) 加自选

新加坡副总理兼贸易和工业部长甘金勇周四表示，新加坡将不对美国关税采取反制措施。然而，由于经济形势“比预期更糟”，政府可能会下调其1%至3%的全年增长预测范围。此前，特朗普总统宣布对所有国家征收10%的全面关税。甘说：“我们自然感到失望的是，尽管我们根据美国-新加坡自由贸易协定（USSFTA）与美国建立了牢固而长期的经济和商业关系，但我们也受到相同的10%基准关税的约束。”。虽然新加坡在美国自由贸易协定下有法律追索权，但它选择不进行报复，以避免企业和消费者承担更高的成本。他补充道：“征收报复性进口关税只会增加我们从美国进口的成本。”。相反，该市将与美国同行接触，了解并解决他们的担忧。

Singapore will refrain from taking countermeasures against U.S. tariffs, Deputy Prime Minister and Trade and Industry Minister Gan Kim Yong said on Thursday. However, the government may revise downward its full-year growth forecast range of between 1% to 3%, as the economic situation has 'turned out to be worse' than expected. This statement followed President Trump’s announcement of a blanket 10% tariff on all countries. “We are naturally disappointed that despite our strong and longstanding economic and commercial relationship with the U.S. under the US-Singapore Free Trade Agreement (USSFTA), we are also subject to the same 10% baseline tariffs,” Gan said. While Singapore has legal recourse under the USSFTA, it has chosen not to retaliate to avoid higher costs for businesses and consumers. “Imposing retaliatory import duties would just add cost to our imports from the U.S.,” he added. Instead, the city will engage with its U.S. counterparts to understand and address their concerns.

瑞士央行董事会成员表示，如果需要，负利率仍然是一种选择。瑞士央行董事会成员Petra Tschudin周四表示，如有必要，瑞士央行可能会引入负利率，因为该政策在过去一直有效，但它更愿意避免。

SNB board member says negative rates still an option if needed.The Swiss National Bank could introduce negative interest rates if necessary because the policy has worked in the past, though it would prefer to avoid it, governing board member Petra Tschudin said on Thursday.

10年期瑞士政府债券收益率跌至0.46%，为2月下旬以来的最低水平，反映了全球市场的走势。在特朗普总统宣布对美国合作伙伴和竞争对手征收高额关税后，投资者寻求避险资产，这引发了一场全球贸易战，许多人担心这将引发经济衰退并加剧通货膨胀。与此同时，瑞士对其进口征收31%的关税，而美国占瑞士出口的19%。在数据方面，瑞士通胀率保持在0.3%的四年低点，与0.5%的预期相反，突显出压力疲软，导致瑞士国家银行上个月将利率降至0.25%。3月是通胀率连续第七个月低于1%，挑战了瑞士国家银行0-2%的目标。美国激进关税的新背景提高了人们对今年进一步降息的预期。

The yield on the 10-year Swiss government bond fell to 0.46%, its lowest since late February, mirroring movements in global markets. Investors sought safe-haven assets following President Trump's announcement of aggressive tariffs against US partners and rivals, fanning a global trade war that many fear will spark recessions and ramp up inflation. Meanwhile, Switzerland was hit with a 31% levy on its imports, while the US accounts for a substantial 19% of Swiss exports. On the data front, Swiss inflation stayed at a four-year low of 0.3%, contrary to expectations of 0.5%, highlighting weak pressures that led the Swiss National Bank to cut interest rates to 0.25% last month. March was the seventh consecutive month with inflation below 1%, challenging the Swiss National Bank’s 0-2% target. The new context of aggressive US tariffs raised expectations of further rate cuts this year.

瑞士法郎兑美元汇率升至0.87，为2024年11月初以来的最高水平，因为投资者纷纷涌向避险资产，以应对美国总统唐纳德·特朗普对主要贸易伙伴征收的比预期更激进的关税。与此同时，作为其“互惠关税”战略的一部分，特朗普总统对瑞士进口商品征收31%的关税。在国内数据方面，2025年3月瑞士的年通货膨胀率为0.3%，与2月份接近四年的低点持平，略低于市场预测的0.5%。

The Swiss franc strengthened toward 0.87 per USD, the highest level since early November 2024, as investors flocked to safe-haven assets in response to US President Donald Trump's more aggressive-than-anticipated tariffs on major trading partners. Meanwhile, as part of his "reciprocal tariffs" strategy, President Trump imposed a 31% levy on Swiss imports. On the domestic data front, the annual inflation rate in Switzerland stood at 0.3% in March 2025, unchanged from February’s near four-year low, slightly below market forecasts of 0.5%.