SNB Cuts Rate to Zero and Hints at More to Stop Franc Inflows

The Swiss National Bank cut its interest rate to zero and signaled it’s ready to go further if necessary as it seeks to deter investors from pushing up the franc.

The quarter-point reduction is the SNB’s sixth consecutive move and was forecast by most of the economists surveyed by Bloomberg after the currency’s strength caused consumer prices to drop for the first time in four years. A minority had anticipated an even bigger half-point step.