The Swiss National Bank has additional room to cut its already negative interest rate, the central bank’s Chief Economist Carlos Lenz told Swiss Sunday newspaper NZZ am Sonntag in an interview. “It’s not ruled out, but they cannot fall indefinitely,” Lenz said when asked if interest rates could decline further. “What’s crucial: cash has an interest rate of 0%. If the rate on bank deposits is significantly below that, clients will withdraw their funds. But that threshold hasn’t been reached because holding cash also comes with high costs. That’s why the national bank still has room for downward maneuver.” Since 2015, ... (full story)