A hallmark of the COVID-era bull market—zero interest rates—has returned, this time in Switzerland, one of the world’s leading financial centers.
On Thursday, the Swiss National Bank (SNB) slashed its interest rate to zero in response to declining inflation, a strengthening Swiss franc (CHF), and growing economic uncertainty fueled by former President Donald Trump’s trade war.
The return to zero interest rates comes amid rising tariff pressures that risk deflating trade-surplus economies like Switzerland and China.
This latest cut marks the Swiss National Bank’s sixth consecutive rate reduction since it began easing borrowing costs in March 2024.
The SNB’s move could signal a broader trend among advanced economies, potentially paving the way for a widespread return to zero interest rate policy (ZIRP)—a shift that could prove favorable for bitcoin.
