Swiss Central Bank President Thomas Jordan stated that negative interest rates in his country could be reduced to more than -0.75% to ease the pressure on the highly valued franc.

Jordan also pledged to use monetary policy tools and intervention in the currency markets in the event of deteriorating economic conditions in the near future, describing the matter as necessary maneuvering, as a strong franc reduces the rate of inflation in Switzerland.

It is noteworthy that Switzerland is one of the four countries around the world that apply negative interest rates, which means that cash deposits bear tariffs for keeping them in banks instead of paying positive interest to depositors.