Coronavirus

SNB’s Maechler: We’re considering “anything” necessary to protect Swiss economy

The Swiss National Bank continues to discuss the need for additional measures to help the economy overcome the biggest downturn in decades, including a further reduction in the negative interest rate burden for banks, Governing Board Member Andrea Maechler said in an interview with CNNMoney’s Hannah Wise. While she said the SNB isn’t ruling out an asset purchase program like the one undertaken by the European Central Bank to spur lending in the euro area, she added that Switzerland has managed to avoid a credit crunch so far and “that’s really important.” Earlier Thursday, the SNB left its key rate unchanged but cut its inflation outlook and said it would keep its policy ultra-loose for “some time” after substantial currency interventions during the coronavirus-induced market turmoil.

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