SNB Won’t Cut Record Low Interest Rate Again, Survey Shows
- SNB’s deposit rate at minus 0.75% since January 2015
- IMF suggested SNB lower rates more to limit interventions
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The Swiss National Bank, which has the lowest interest rate among the world’s major central banks, may be done cutting.
SNB President Thomas Jordan and his fellow policy makers will keep the deposit rate unchanged at minus 0.75 percent until at least the end of the first quarter of 2019, according to the median forecast in Bloomberg’s monthly survey of economists. That would mean ignoring the International Monetary Fund’s advice to fend off inflows with a “moderate” reduction. The SNB’s policy consists of both negative rates and currency interventions.