The Swiss National Bank kept its policy rate at -0.75 percent and the interest rate it charges on overnight deposits it holds for commercial banks at -0.75 percent during its June meeting, in line with market expectations. Policymakers added that in the light of the highly valued Swiss franc, the bank is willing to intervene more strongly in the foreign exchange market. At the same time, policymakers slashed its inflation forecast, due to the significantly weaker growth prospects and lower oil prices. This year the inflation rate will stay at -0.7%, in 2021 at -0.2% only returning to positive territory in 2022 (0.2%).
Interest Rate in Switzerland averaged 0.68 percent from 2000 until 2020, 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 July of 2020.
Interest Rate in Switzerland is expected to be -0.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Switzerland to stand at -0.75 in 12 months time. In the long-term, the Switzerland Interest Rate is projected to trend around -0.75 percent in 2021, according to our econometric models.