As expected, the Swiss National Bank has lowered interest rates to zero.
That’s a cut of 25 basis points.
The Bank says the move is due to low inflation – some figures are even showing signs of deflation.
The move will also help the franc on the currency markets, which many observers say is still too strong. The franc is benefitting from its safe haven status.
It’s the sixth rate cut in a row.
The Bank has used negative rates in the past, it has said it doesn’t want to do that again – but analysts believe it may have no choice in the future.
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