World Central Banks
The Swiss National Bank kept its policy rate at -0.75%
Policymakers added that in the light of the highly valued Swiss franc, the bank is willing to intervene more strongly in the foreign exchange market.
The Swiss National Bank kept its policy rate at -0.75%
Policymakers also slashed its economic growth forecasts for 2020
Swiss National Bank
https://www.snb.ch/The Swiss National Bank plays the role of the Swiss Central Bank. It was founded in 1906. In accordance with the legislation, the Swiss National Bank is a joint stock company which securities are traded on the local exchange. Shareholders of the National Bank are Swiss cantons. Bank shares can be held by citizens of Switzerland, Swiss companies and companies with headquarters in Switzerland only.
The National Bank of Switzerland has a special status with respect to other joint-stock companies of the country that defines a number of responsibilities. For instance, the Central Bank bears direct responsibility for price stability and functioning of cashless payments in the country. And a large portion of the profit goes to the budget of cantons.
The interest rate of the Swiss National Bank is set quarterly based on LIBOR, i.e. the rate at which London banks grant credits to each other.