World Economy

SNB Ready for Negative Rates

SNB Ready for Negative RatesSNB Ready for Negative Rates

The Swiss National Bank will defend its cap on the currency with all means and is ready to introduce negative interest rates if necessary, President Thomas Jordan said. “We will enforce the minimum exchange rate if necessary,” Jordan said in an Oct. 10 interview in Washington, where he was attending the International Monetary Fund’s annual meeting, Bloomberg said. “We do not exclude any instrument that is necessary and we do not exclude specifically negative interest rates.” The SNB set a cap of 1.20 per euro on the franc three years ago to shield the economy from the euro area’s debt crisis.