The Swiss voice in the world since 1935

Swiss National Bank lowers key interest rate to 1.25%

The facade of the Swiss National Bank in Zurich on a grey, cloudy day. The building is approximately four storeys, off-white, with lines of windows from the first floor and lines of archways on the ground floor. ‘Swiss National Bank’ in the country’s official languages can be seen carved along the top of the building.
Back in March, the SNB was one of the first major central banks worldwide to lower its key interest rate, which came as a surprise. Keystone / Michael Buholzer

The Swiss National Bank (SNB) is lowering its key interest rate once again, from 1.5% to 1.25%. 

Do you want to read our weekly top stories? Subscribe here.

Underlying inflationary pressure had fallen again compared to the previous quarter, the SNB said on Thursday. By lowering the key interest rate, it was able to maintain appropriate monetary conditions, it said.

Back in March, the SNB was one of the first major central banks worldwide to lower its key interest rate, which came as a surprise. The SNB had previously raised the key interest rate from -0.75% in June 2022 to 1.75% in just five steps and then left it unchanged twice.  

The SNB would continue to monitor the development of inflation closely, it said on Thursday, and would adjust its monetary policy “if necessary” to ensure price stability in the medium term as well.

The SNB also said it was still prepared to be active on the foreign exchange market if required. 

Adapted from German by DeepL/kp/ts 

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, and if you have feedback on this news story please write to english@swissinfo.ch.

External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Daily news

Get the most important news from Switzerland in your inbox.

Daily

The SBC Privacy Policy provides additional information on how your data is processed.

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