Economics
SNB Steps Up Interventions and Cuts Banks Slack on Negative Rate
- Reduces negative rate burden for banks further from April 1
- Bucks rate cut trend and keeps deposit rate at -0.75%
A Swiss National Bank (SNB) logo sits above the the entrance to the central bank in Bern, Switzerland.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
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The Swiss National Bank is stepping up currency interventions to stem the franc’s advance, choosing that measure over an interest-rate cut to combat the economic fallout from the coronavirus outbreak.