India, June 19 -- The Swiss National Bank reduced its policy rate to zero on Thursday as inflation turned negative and the currency strengthened further amid global trade tensions.
The bank decided to lower the SNB policy rate by 0.25 percentage points to zero percent. This was the sixth consecutive reduction.
The bank has reduced the key rate by 175 basis points since March 2024. The bank had exited its negative rate in 2022 after holding it for over seven years.
President Martin Schlegel said the board is bringing the interest rate to the verge of negative territory.
The bank today said the sight deposits held at the SNB will be remunerated at the policy rate up to a certain threshold. The discount for sight deposits above this thresh...