India, March 20 -- The Swiss National Bank trimmed its interest rate for the fifth consecutive meeting to the lowest since September 2022, amid heightened downside risks to inflation.
The policy board, led by President Martin Schlegel, lowered the policy rate by 25 basis points to 0.25 percent from 0.50 percent.
This followed a 50 basis point cut in December. The bank has reduced the key rate by 150 basis points since March 2024.
Banks' sight deposits held at the SNB will be remunerated at the policy rate up to a certain threshold, and at zero percent above this threshold.
The bank said it will continue to monitor the situation closely and adjust its monetary policy if necessary.
The bank repeatedly said that it remains willing to be a...