September 19, 2019 / 10:23 AM / a month ago

Swiss National Bank expects prolonged low interest rate environment

ZURICH, Sept 19 (Reuters) - The Swiss National Bank decided to extend the threshold before negative interest rates apply to banks because it expects low interest rates to persist for a long time, Chairman Thomas Jordan told Swiss broadcaster SRF on Thursday.

“It’s not a question of accommodating the banks, but rather of assuming that this global low interest rate environment will continue for a long time,” Jordan said.

“We cannot assume that we will back in positive interest rates in a short period of time,” he added.

Reporting by John Revill; editing by Brenna Hughes Neghaiwi

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