19 days ago • Posted by William Ramstein
The Swiss franc projections remain strong despite negative rates.
The Swiss National Bank kept interest rates at record lows and pledged to continue its policy of foreign-exchange interventions as the economy remains vulnerable due to the pandemic. Officials led by President Thomas Jordan reiterated that the franc is “highly valued,” and also kept both the policy rate and deposit rate at -0.75%, as predicted by economists. Although the currency’s drop to a 20-month low against the euro in recent weeks has given officials some respite, inflationary pressures remain weak and the slow deployment of Covid-19 vaccinations is crimping economic activity.