The Swiss central bank will lower interest rates to zero to prevent investors from pushing up the value of the Swiss franc.

The Swiss National Bank has reduced interest rates to zero in an attempt to prevent investors from further pushing up the value of the Swiss franc, after consumer prices in the country fell for the first time in four years due to the strength of the Swiss franc. The interest rate cut on Thursday was 25 basis points, marking the sixth consecutive rate cut by the Swiss National Bank. Most economists surveyed prior to the decision had anticipated this outcome, with a few economists expecting a 50 basis point cut. "The Swiss National Bank eased its monetary policy today in response to downward pressure on inflation," the bank said in a policy statement. "The bank will continue to closely monitor the situation and adjust monetary policy as necessary." The statement also noted that the Swiss National Bank "remains willing to intervene in the foreign exchange market if necessary." This rate cut highlights the severe impact that President Trump's trade disruption measures are having on Switzerland. Swiss National Bank President Martin Schlegel and his colleagues had hinted in March that the easing cycle may have come to an end, but the role of the Swiss franc as a safe haven forced them to take action once again.