According to a report by Jinshi Data, Swiss National Bank President Thomas Jordan indicated that lowering interest rates below zero is a bolder move than lowering rates above that level, suggesting that the central bank may be hesitant to take this step.
Jordan pointed out that negative interest rates have a negative impact on savers, bankers, pension funds, and others, stating that if rates fall into negative territory, the obstacles will be greater than a 'normal' rate cut.
When asked about the likelihood of the Swiss National Bank cutting rates in its next decision on September 25, Jordan was reluctant to make a commitment, stating that officials would weigh data and forecasts at that time. Two days ago, the Swiss National Bank lowered rates to zero in an attempt to prevent investors from pushing up the Swiss franc.
