Bar for going back into negative rates is high – SNB chair
Schlegel says impact on pensions and savers means caution would be warranted
The Swiss National Bank has high barriers for any return to negative interest rates, the chairman of its governing board has said.
Martin Schlegel told Migros Magazine on September 8 that “negative interest rates can have undesirable side effects, particularly for savers and pension funds”, and that caution was therefore warranted ahead of any move into subzero territory.
Negative monetary policy “does not affect savers and borrowers in the same way”, he said. However, the SNB could not “wait too
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