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    Home > Finance > SNB says likelihood of negative interest rates has come down
    Finance

    SNB says likelihood of negative interest rates has come down

    Published by Global Banking & Finance Review®

    Posted on December 12, 2024

    1 min read

    Last updated: January 27, 2026

    The image features Swiss National Bank Chairman Martin Schlegel speaking about the reduced likelihood of negative interest rates. This discussion is crucial for understanding the SNB's monetary policy and its impact on the Swiss economy.
    Chairman Martin Schlegel discusses negative interest rates - Global Banking & Finance Review
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    Quick Summary

    The Swiss National Bank has reduced the likelihood of negative interest rates following recent borrowing cost cuts, according to Chairman Martin Schlegel.

    SNB Lowers Chances of Future Negative Interest Rates

    BERN (Reuters) - The Swiss National Bank could still take interest rates into negative territory, Chairman Martin Schlegel, although the likelihood of such a move has reduced after the central bank's latest cut in borrowing costs.

    "At the current juncture we cannot exclude negative interests rates in the future," Schlegel told reporters. "Now with these cuts today the likelihood of negative rates has become smaller."

    Schlegel, who has previously flagged negative rates as possible move, said the SNB did not like negative rates, a policy it used for seven years until 2022.

    Negative rates are a tool to weaken investor demand for the safe haven franc, whose appreciation has weighed on Swiss exporters by making their products more expensive abroad.

    The SNB moved interest rates into negative territory from late 2014 to 2022 to limit the franc's appreciation, although the policy was unpopular with banks and savers.

    "Nobody likes negative interest rates. Also, the Swiss National Bank does not like negative interest rates," Schlegel said.

    (Reporting by John Revill; Editing by Dave Graham)

    Key Takeaways

    • •The Swiss National Bank may still consider negative interest rates.
    • •Recent borrowing cost cuts have reduced the likelihood of negative rates.
    • •Negative rates were used from 2014 to 2022 to control the Swiss franc.
    • •The policy was unpopular with banks and savers.
    • •SNB Chairman Martin Schlegel emphasizes the bank's dislike for negative rates.

    Frequently Asked Questions about SNB says likelihood of negative interest rates has come down

    1What is the main topic?

    The article discusses the Swiss National Bank's stance on negative interest rates and their reduced likelihood following recent policy changes.

    2Why were negative interest rates used?

    Negative interest rates were used to weaken investor demand for the Swiss franc, helping Swiss exporters by making their products less expensive abroad.

    3Who is Martin Schlegel?

    Martin Schlegel is the Chairman of the Swiss National Bank, who commented on the likelihood of negative interest rates.

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