They keep lowering this policy rate by about 0.1% every day. The lower bound of the current policy range is -1.25% so they should be there in another 2 or 3 days.
Let's watch to see if there is a reaction in the CHF exchange rate vs. EUR or USD when they stop lowering this rate next week.
While this rate lowering has been going on the CHF has been pretty steady vs. those two currencies. I'd assume they are looking for a weakening in the CHF vs. the EUR and USD as they continue to lower this policy rate. If so they have not been getting the response they are looking for.
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