The Swiss National Bank remains wedded to its ultra-expansive monetary policy, i...
BERN - The Swiss National Bank remains wedded to its ultra-expansive monetary policy, indicating on Thursday that its negative interest rates would remain in place for the foreseeable future despite rising criticism in Switzerland.
The SNB left its policy rate at -0.75%, as expected by all analysts in a Reuters poll. It also maintained the rate it charges on commercial banks’ sight deposits at -0.75%. The SNB continued to describe the franc as “highly valued,” as predicted in the poll, and described the foreign-exchange situation as “fragile.”
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