The Swiss National Bank’s negative interest rates are essential and a premature tightening would hurt the economy, according to the government. In a closed-door meeting with leading politicians, representatives of Switzerland’s executive explained why subzero rates are important “despite unwanted side effects.” The formal Von-Wattenwyl talks are conducted twice annually, on a variety of topics. “Getting rid of the negative rates prematurely would involve a high economic cost,” the government said in a statement released Friday. The SNB’s deposit rate has been at an ultra-low -0.75% since 2015, and financial ... (full story)