SNB Board member Andrea Maechler said that “for Switzerland, the negative interest is absolutely needed and essential for us.” In particular expansive policy is critical to counter uncertainties, including Brexit, US-China trade tension and geopolitical tensions with Iran.
She added that the central bank is willing to further intervene in the forex markets. Also, she warned “there might be a scenario in which the world stays longer than expected in this environment of very low rates.”
