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Swiss central bank keeps zero-rate as tariffs take their toll

The Swiss National Bank warns that 39% US tariffs on exports have lowered growth forecasts for 2026 to just under 1%, while maintaining an expansionary monetary policy.

  • The Swiss National Bank is keeping its key interest rate at zero to maintain an expansionary monetary policy.
  • Martin Schlegel, the SNB chair, remarked that the US's 39% tariffs on Swiss exports pose a significant challenge for companies.
  • The SNB indicated that uncertainties regarding inflation and economic growth in Switzerland remain high, impacting the economic outlook.
  • The SNB is prepared to adjust its monetary policy and be active in the foreign exchange market if needed.
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France24France24
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Swiss central bank keeps zero-rate as tariffs take their toll

·France
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After six successive reductions, the Swiss National Bank does not charge interest rates.

·Zürich, Switzerland
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  • 42% of the sources are Center
42% Center

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Bloomberg broke the news in United States on Wednesday, September 24, 2025.
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