The GBP/CHF currency pair has snapped a streak of five consecutive weekly gains, as investors assessed the Bank of England’s and the Swiss National Bank’s policy decisions.

The SNB lowered its policy rate by 25 basis points to 0.25% at its March meeting, as it cited low inflationary pressures and “heightened downside risks” to inflation.

It has been the fifth straight rate cut in the current easing cycle, which brought borrowing costs to their lowest level since September 2022.

The central bank maintained its inflation forecast at 0.4% for this year and at 0.8% for both 2026 and 2027.

At the same time, the SNB noted that the Swiss economy had achieved steady growth in late 2024, driven by services. It now projects GDP growth of 1% to 1.5% this year, supported by higher real wages and more accommodative monetary policy. Yet, outlook remains uncertain due to geopolitical and global trade risks.

Meanwhile, the Bank of England maintained its benchmark interest rate at 4.5% at its March policy meeting, in line with market consensus.

BoE policy makers adopted a wait-and-see approach as inflation remained elevated and global economic uncertainties persisted.

One Monetary Policy Committee member, Swati Dhingra, has voted in favor of a 25 basis point rate cut to 4.25%.

The BoE has delivered three rate cuts since the beginning of its monetary easing cycle in August 2024.

Given the medium-term inflation outlook, BoE policy makers considered a gradual and cautious approach to further monetary easing as appropriate.

Despite a drop in global energy prices, the BoE now forecasts a peak inflation rate of 3.75% by the third quarter of 2025.

The GBP/CHF currency pair settled 0.32% lower at 1.1389 on Friday.

The minor Forex pair lost 0.33% for the week.