The Swiss National Bank halved interest rates yesterday at 0.25%.
Before the announcement, analysts admitted they were unsure what decision the Bern bankers would make.
At a press conference, the bank says there’s limited inflationary pressure and they expect the rate to be an average of 0.4% for this year – assuming there’s no change in rates for the rest of the year.
It also confirmed the current threat of tariffs from the United States – and retaliatory measures by other countries – makes predicting the future very difficult.
The press asked if there was a chance of returning to negative rates, but the bank says lowering the rates will have an expansionary effect - so making negative rates less likely.
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