The central bank, in the first decision since long-serving Chairman Thomas Jordan said he would step down in September, also reduced its interest rate on sight deposits to 1.5%.
The easing comes after Swiss inflation dipped to 1.2% in February, the ninth month in succession that price rises have been within the SNB's 0-2% target range, which it defines as price stability. The bank said that for some months, inflation had been back below 2% and thus in the range it equates with price stability. According to the latest forecast, inflation is also likely to remain in this range over the next few years, it added.
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