Swiss National Bank not locked into rate cuts, Vice Chairman says
ZURICH - The Swiss National Bank is not locked into more interest rate cuts in December, Vice Chairman Antoine Martin was quoted as saying in an interview published on
At its last meeting in September, the SNB said it was ready to cut again, while both Martin and Chairman Martin Schlegel have recently floated the idea of lowering interest rates further and even taking rates below zero. This meant the SNB had made"absolutely no commitment" to its future course of action, Martin said in the interview, which took place before Donald Trump was elected next U.S. president.Low Swiss inflation was one factor behind the rise in the Swiss franc in recent years, while the currency was also sought by investors as a safe haven in times of uncertainty, he added.
"But in real terms, excluding the inflation effect, the appreciation has been limited," Martin said, adding the franc's appreciation this year was not particularly surprising or problematic.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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