The Swiss National Bank raised its policy rate by 50 bps to 1.5% in its March meeting, following a similar move in December and bringing borrowing costs the highest since November 2008. The central bank also said that additional hikes in the policy rate could not be ruled out to ensure price stability over the medium term. To provide appropriate monetary conditions, the SNB remains willing to be active in the foreign exchange market as necessary. The central bank now sees average annual inflation at 2.6% for 2023 (compared to previous projections of 2.4%), and 2.0% for 2024 (from 1.8). source: Swiss National Bank

Interest Rate in Switzerland averaged 0.57 percent from 2000 until 2023, 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 June of 2023.

Interest Rate in Switzerland is expected to be 1.50 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 1.25 percent in 2024 and 1.00 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Switzerland Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-22 07:30 AM 0.5% -0.25% 0.5% 0.5%
2022-12-15 08:30 AM 1% 0.5% 1% 1%
2023-03-23 08:30 AM 1.5% 1% 1.5% 1.5%
2023-06-22 08:30 AM 1.5% 2.0%
2023-09-21 08:30 AM 2.0%
2023-12-14 08:30 AM 2.0%


Related Last Previous Unit Reference
Interest Rate 1.50 1.50 percent May 2023
Money Supply M1 695124.00 704536.00 CHF Million Apr 2023
Money Supply M0 589736.00 592946.00 CHF Million Apr 2023
Money Supply M2 1003055.00 1014266.00 CHF Million Apr 2023
Money Supply M3 1151874.00 1152759.00 CHF Million Apr 2023
Foreign Exchange Reserves 734116.00 732892.00 CHF Million May 2023
Banks Balance Sheet 2289292.49 2298748.05 CHF Million Mar 2023
Loans to Private Sector 1709989.00 1709279.00 CHF Million Mar 2023
Deposit Interest Rate 1.00 0.94 percent Apr 2023
Central Bank Balance Sheet 932483.63 954597.79 CHF Million Apr 2023

Switzerland Interest Rate
In Switzerland, interest rate decisions are taken by the Swiss National Bank. The official interest rate is the SNB policy rate. The SNB seeks to keep the secured short-term Swiss franc money market rates close to the SNB policy rate. SARON is the most representative of these rates today. As of 13 June 2019, the SNB policy rate replaced the target range for the three-month Swiss franc Libor (London Interbank Offered Rate) previously used in the SNB's monetary policy strategy. The reason for this adjustment was that the Libor was becoming less relevant as the most important reference rate owing to the absence of the underlying money market transactions. From 6 September 2011 to 15 January 2015, the main focus of implementation was on the minimum exchange rate of CHF 1.20 per euro, which the SNB enforced during this period. On 18 December 2014, the SNB decided to impose an interest rate of -0.25% on sight deposit account balances. With the announcement of a negative interest rate, the Libor target range used then was taken into negative territory for the first time, and extended to its usual width of 1 percentage point. On 15 January 2015, the SNB lowered the interest rate on sight deposits to -0.75% and moved the target range downwards to between -1.25% and -0.25%. Negative interest has applied since 22 January 2015 and currently corresponds to the SNB policy rate.
Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.50 3.50 -0.75 2000 - 2023 percent Daily

News Stream
SNB Rises Interest Rate by 50bps
The Swiss National Bank raised its policy rate by 50 bps to 1.5% in its March meeting, following a similar move in December and bringing borrowing costs the highest since November 2008. The central bank also said that additional hikes in the policy rate could not be ruled out to ensure price stability over the medium term. To provide appropriate monetary conditions, the SNB remains willing to be active in the foreign exchange market as necessary. The central bank now sees average annual inflation at 2.6% for 2023 (compared to previous projections of 2.4%), and 2.0% for 2024 (from 1.8).
2023-03-23
SNB Hikes Rate by 50bps
The Swiss National Bank raised its policy rate by 50 bps to 1% in its December, following a 75 bps rate hike in September and bringing borrowing costs the highest since 2008 and said that additional rises in the SNB policy rate might be necessary to ensure price stability over the medium term. To provide appropriate monetary conditions, the SNB is also willing to be active in the foreign exchange market as necessary. The central bank now sees average annual inflation at 2.9% for 2022 (compared to previous projections of 3.0%), 2.4% for 2023 (the same as in September) and 1.8% for 2024 (from 1.7%).
2022-12-15
Swiss National Bank Hikes Rate to 0.5%
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.
2022-09-22