Swiss National Bank Maintains Policy Rate Amid Inflation Concerns

The Swiss National Bank (SNB) has confirmed its willingness to further cut interest rates if economic conditions warrant it. This announcement follows the central bank's decision to keep its policy rate steady at 0%.

Chairman Martin Schlegel stressed that while the SNB is prepared to lower rates, moving into negative territory would require a significant justification. He pointed out that the central bank would consider such measures if inflation moved outside the desired range.

The SNB's target is to maintain inflation within a 0-2% range in the medium term, allowing for possible short-term deviations. Schlegel reiterated the importance of achieving price stability over the medium term during his remarks to reporters.