That could be. Also I think the Swiss don't want too much foreign capital given the problems inherent with borrowing, and the fact that money already doesn't go very far in Switzerland (low ppp).

draoi

Yes, exactly, and that's why I wrote that Switzerland is the safe haven in case the euro collapses again. And, and this is where it gets speculative, I suspect that they are playing the trailblazer in this interest rate cycle so that capital flight is not stimulated so quickly

TomK

econ

Swiss central bank cuts key interest rate by 25 basis points

Resident of Switzerland here.

One thing that needs to be pointed out is that CHF is probably the strongest fiat currency in the world and that Swiss gov. has a pretty low debt to gdp ratio. Otherwise such low interest rates would not be possible.