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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 announced it is maintaining its policy rate at zero percent on Thursday due to economic challenges.
  • Central Bank Chief Martin Schlegel highlighted that the US tariffs present a major challenge for affected companies and are likely to dampen economic activity.
  • Bern is pursuing negotiations with Washington to achieve lower tariffs, while the impact of the tariffs remains uncertain.
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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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Bloomberg broke the news in United States on Wednesday, September 24, 2025.
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