SNB Set to Cut to Zero But Shirk From Negative Rate for Now

The Swiss National Bank will probably lower its interest rate to zero this week and stay there for some time, a Bloomberg survey of economists showed, just as new government forecasts pointed to persistently slow inflation.

Policymakers will reduce borrowing costs by a quarter point on Thursday, almost 80% of their predictions show. That would return the benchmark to the level it last crossed in September 2022, when seven years of negative rates ended. This would be the first time ever it has landed on zero.