Weekend - SNB's Zurbruegg says negative rates are still required to prevent a rising CHF

Author: Eamonn Sheridan | Category: Central Banks

The Swiss National Bank's Vice President Fritz Zurbruegg was speaking with Sonntagszeitung in an interview.

  • at the moment we need the negative interest rates due to the situation globally
  • If we were to hike interest rates now, the franc would appreciation markedly, economic growth would slow and joblessness would increase
  • pickup in inflation in Switzerland is temporary, in the medium term we expect it to stay low
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The Swiss National Bank has set its deposit rate at -0.75.%. The Bank has also not been shy to intervene in the currency if necessary. The next monetary policy meeting is September 23, expectations are of no change to current policy. 

The Swiss National Bank's Vice President Fritz Zurbruegg was speaking with Sonntagszeitung in an interview.

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