The Swiss National Bank raised its policy rate by 75bps to 0.5% in its September meeting, lifting borrowing costs to positive territory for the first time since 2011 and signaling that the interest rate will likely continue to increase in the coming meetings. It was the second rate hike since 2007 after the central bank kept its policy rate at record lows of -0.75% since 2015. The decision was aimed to counter higher price growth, after surging prices for energy and food lifted headline inflation to a 29-year high of 3.5%. The SNB also emphasized it is willing to intervene on the foreign exchange market if needed. In the meantime, the central bank revised inflation forecasts upwards to 3.4% by the end of the year (compared to previous projections of 3%) and 1.7% at the end of 2023 (from 1.4%). The SNB also lowered growth forecasts to 2% this year from previous expectations of 2.5%, as energy prices pressure manufacturing. source: Swiss National Bank
Interest Rate in Switzerland averaged 0.56 percent from 2000 until 2022, reaching an all time high of 3.50 percent in June of 2000 and a record low of -0.75 percent in January of 2015. This page provides - Switzerland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2022.
Interest Rate in Switzerland is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Switzerland Interest Rate is projected to trend around 2.00 percent in 2023 and 1.00 percent in 2024, according to our econometric models.