The Swiss National Bank (SNB) has decided to keep its policy rate at 0%, halting a series of rate cuts as new trade tensions arise from Washington's tariffs. The decision comes in response to the economic impact of Trump's 39% tariffs on Swiss exports, notably affecting the machinery and watchmaking sectors. Despite these challenges, Swiss Vice President Martin Schlegel expressed confidence in the economy's resilience, with no recession anticipated in 2025. The SNB also highlighted stable inflation, currently within its 0-2% target range, as a reason for maintaining the current rate.