December 15, 2016 / 10:20 AM / a year ago

SNB says cannot rule out another rate cut

BERN, Dec 15 (Reuters) - It may become necessary to further lower rates in Switzerland from their current record-low levels, Swiss National Bank (SNB) Chairman Thomas Jordan said on Thursday.

“We cannot rule out that a further step lower will become necessary,” Jordan told a media conference following the SNB’s decision to keep a negative interest rate of -0.75 percent.

He said the SNB’s readiness to intervene in forex markets to keep a lid on the franc remained unchanged, even though the U.S. Federal Reserve’s decision to raise interest rates was sending a positive signal. (Reporting by Zurich Newsroom)

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