Swiss Rates Can Be Lowered Further, SNB President Says

The Swiss National Bank can lower its subzero interest rates even further, President Thomas Jordan told newspaper Blick.

In the interview, Jordan affirmed the ongoing need for a deposit rate of minus 0.75 percent plus a pledge to intervene in currency markets, if necessary, adding the franc remains highly valued. The SNB had the tools to act, he said, should economic conditions deteriorate.