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Investing.com -- The Swiss National Bank (SNB) maintained its interest rate at 0% in its latest meeting, determining that the Swiss economic outlook and future inflation did not necessitate moving into negative territory, according to minutes released Thursday.
This marks the first time the SNB has published minutes of its monetary policy meetings.
The central bank stated that current monetary policy is providing adequate support to the economy, noting that the full effects of previous rate cuts have not yet been fully realized.
Regarding U.S. tariffs, the SNB observed they are only impacting certain segments of the Swiss economy, with "hardly any" evidence that negative effects on exporters are spreading to other economic sectors.
"Despite the tariffs, the overall economic situation is not currently giving cause for concern. Most economic indicators continue to point to moderate growth. However, uncertainty remains high," the SNB said in the minutes.
The bank justified its decision to maintain current rates by citing both the inflation forecast and economic outlook as supporting factors for keeping monetary policy unchanged.
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