SNB’s Tschudin: Swiss Economy Grew Strongly In Q1, Mainly Due To Exports To US Being Brought Forward

SNB Chairman Schlegel: With Today's Cut We Are Countering Lower Inflationary Pressure Inflationary Pressure Has Decreased - Negative Rates Were Important Instrument In The Past - We Are Aware Of Undesirable Effect Of Negative Interest Rates SNB Chairman Schlegel: We Would Not Take The Decision To Go Negative Lightly - Interest Rate Cut Driven By Lower Inflation - Negative Rates Have Challenges - We Can Never Exclude Any Measures On Interest Rates SNB Chairman Schlegel: We Believe Growth Will Be Dampened In Rest Of Year Because Of High Level Of Uncertainty - We Have Seen A Clear Decline In Inflation, But We Must Not React A Single Data Point - We Look At Medium Term

Ladies and gentlemen On behalf of the Governing Board, it is my pleasure as Chairman to welcome you to the SNB’s news conference. Petra Tschudin and I will begin by explaining the ...

The Swiss National Bank is lowering the SNB policy rate by 0.25 percentage points to 0%. The new policy rate applies from tomorrow, 20 June 2025. Banks' sight deposits held at the ...