The Swiss voice in the world since 1935

Swiss National Bank lowers key interest rate by 0.5%

SNB lowers key interest rate by 0.50 percent
SNB lowers key interest rate by 0.50 percent Keystone-SDA

The Swiss National Bank (SNB) has lowered its benchmark interest rate by a surprisingly hefty 0.5%. The Swiss reference rate now stands at 0.5%.

+Get the most important news from Switzerland in your inbox

Further interest rate hikes are possible: the SNB will continue to monitor the situation closely, according to the communiqué published on Thursday.

+ Switzerland navigates own course through inflation maze

If necessary, the SNB will adjust its monetary policy to ensure that inflation remains within the price stability range of 0% to 2% in the medium term. If necessary, the SNB is also prepared to remain active on the foreign exchange market.

More

After the last monetary policy assessment, the choice of words was even clearer. At that time, it was stated that further interest rate cuts could be necessary in the coming quarters.

The underlying inflationary pressure has decreased again this quarter, according to the current interest rate move. With today’s easing of monetary policy, the SNB is taking this development into account.

The SNB had already lowered the key interest rate by 25 basis points in March, June and September. Previously, the central bank had raised the key interest rate from -0.75% in June 2022 to 1.75% in just five steps and then left it unchanged twice.

More
Real estate market still shows no signs of correction

More

Swiss property market shows no signs of correction

This content was published on The Swiss real estate market continues to show no signs of correction. In recent months, prices have continued to rise, while neighbouring countries such as Germany and France have seen considerable declines.

Read more: Swiss property market shows no signs of correction

Translated from German by DeepL/mga

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.

Popular Stories

Most Discussed

News

F/A-18 take-offs and landings at Bern-Belp Airport

More

F/A-18s take off and land at Bern Airport

This content was published on The Swiss Armed Forces are training their fighter jets in Bern to fly from a civilian base. The exercise at Bern Airport will last until Wednesday.

Read more: F/A-18s take off and land at Bern Airport
cern

More

Plans materialise for new particle accelerator in Geneva

This content was published on Preparations for a huge new particle accelerator in Geneva have reached a milestone. After several years of work, a feasibility study for the project has now been finalised.

Read more: Plans materialise for new particle accelerator in Geneva
More Russian assets frozen in Switzerland

More

More Russian assets frozen in Switzerland

This content was published on The value of frozen Russian assets in Switzerland currently stands at CHF7.4 billion ($8.4 billion), the Swiss government announced on Tuesday.

Read more: More Russian assets frozen in Switzerland
Increase in business start-ups in the 1st quarter

More

Increase in Swiss business start-ups in Q1

This content was published on The number of business start-ups in Switzerland accelerated in the first three months of the year, with entrepreneurs being particularly dynamic in Central Switzerland, Basel and Geneva.

Read more: Increase in Swiss business start-ups in Q1

In compliance with the JTI standards

More: SWI swissinfo.ch certified by the Journalism Trust Initiative

You can find an overview of ongoing debates with our journalists here . Please join us!

If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR

SWI swissinfo.ch - a branch of Swiss Broadcasting Corporation SRG SSR