According to Jin Ten data reports, Swiss National Bank President Schlegel stated that lowering interest rates below zero is a bolder move than lowering rates above that level, implying that the central bank may be hesitant to take this action.
Schlegel pointed out that negative interest rates have a negative impact on savers, bankers, pension funds, etc., stating that if rates fall into negative territory, the obstacles will be greater than a 'normal' rate cut.
When asked about the possibility of a rate cut in the Swiss National Bank's next decision on September 25, Schlegel 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 interest rates to zero in an attempt to prevent investors from pushing up the Swiss franc.