The Swiss National Bank held its policy rate at -0.75% and the interest rate it charges on overnight deposits it holds for commercial banks at -0.75% at its September 2021 meeting, as expected. Policymakers said they are maintaining an expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy, despite early moves by the ECB and the US Fed to start normalising policy during the post-pandemic recovery. The central bank raised inflation forecasts for 2021 to 0.5% (vs 0.4% in June) and for 2022 to 0.7% (vs 0.6% in June), amid higher prices for oil products as well as supply bottlenecks. For 2023, inflation forecasts were kept unchanged at 0.6%. The GDP growth was revised lower to 3% for this year (vs 3.5% earlier) and it is likely to return to its pre-crisis level by the second-half of the year. The Bank reiterated its continued willingness to intervene in foreign exchange markets “as necessary” to temper the value of the franc. source: Swiss National Bank

Interest Rate in Switzerland averaged 0.60 percent from 2000 until 2021, 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 December of 2021.

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. In the long-term, the Switzerland Interest Rate is projected to trend around -0.75 percent in 2022, 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.

Please Paste this Code in your Website
width
height
Switzerland Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-03-25 08:30 AM SNB Interest Rate Decision -0.75% -0.75% -0.75% -0.75%
2021-06-17 07:30 AM SNB Interest Rate Decision -0.75% -0.75% -0.75% -0.75%
2021-09-23 07:30 AM SNB Interest Rate Decision -0.75% -0.75% -0.75% -0.75%
2021-12-16 08:30 AM SNB Interest Rate Decision -0.75% -0.75%
2021-12-16 09:30 AM SNB Press Conference


Related Last Previous Unit Reference
Interest Rate -0.75 -0.75 percent Oct/21
Money Supply M1 766231.00 762459.00 CHF Million Oct/21
Money Supply M0 729760.00 723908.00 CHF Million Oct/21
Money Supply M2 1094990.00 1092071.00 CHF Million Oct/21
Money Supply M3 1162816.00 1158101.00 CHF Million Oct/21
Foreign Exchange Reserves 922974.80 939293.60 CHF Million Oct/21
Banks Balance Sheet 2289217.22 2289798.82 CHF Million Sep/21
Loans to Private Sector 1645183.00 1643197.00 CHF Million Sep/21
Deposit Interest Rate -0.43 -0.43 percent Sep/21
Central Bank Balance Sheet 1050020.58 1042215.17 CHF Million Sep/21

News Stream
SNB Keeps Rates Steady, Review Forecasts
The Swiss National Bank held its policy rate at -0.75% and the interest rate it charges on overnight deposits it holds for commercial banks at -0.75% at its September 2021 meeting, as expected. Policymakers said they are maintaining an expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy, despite early moves by the ECB and the US Fed to start normalising policy during the post-pandemic recovery. The central bank raised inflation forecasts for 2021 to 0.5% (vs 0.4% in June) and for 2022 to 0.7% (vs 0.6% in June), amid higher prices for oil products as well as supply bottlenecks. For 2023, inflation forecasts were kept unchanged at 0.6%. The GDP growth was revised lower to 3% for this year (vs 3.5% earlier) and it is likely to return to its pre-crisis level by the second-half of the year. The Bank reiterated its continued willingness to intervene in foreign exchange markets “as necessary” to temper the value of the franc.
2021-09-23
SNB Leaves Rates Steady, Raises Inflation Forecasts
The Swiss National Bank held its policy rate at -0.75% and the interest rate it charges on overnight deposits it holds for commercial banks at -0.75%during its June 2021 meeting, in line with expectations. Policymakers said they are maintaining an expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy in its recovery from the impact of the coronavirus pandemic. The central bank raised inflation forecasts to 0.4% (vs 0.2% in March) in 2021 and 0.6% for both 2022 and 2023, amid higher prices for oil products and tourism-related services, as well as for goods affected by supply bottlenecks. GDP growth was also revised higher to 3.5% for this year and it is likely to return to its pre-crisis level by the middle of the year.
2021-06-17
SNB Maintains Expansionary Monetary Policy
The Swiss National Bank held 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 March meeting, saying the Swiss franc remains highly valued, despite the recent weakening, and the coronavirus pandemic continues to have a strong adverse effect on the economy. Policymakers noted that the recovery is likely to regain momentum from the second quarter, helped by the expected progress with vaccination programmes, alongside the monetary and fiscal policy measures introduced worldwide. Looking forward, the SNB continues to expect GDP growth of 2.5 percent to 3 percent for 2021, as the containment measures in Switzerland will be eased further in the coming months, while inflation forecasts for 2021 and 2022 were revised higher, due to the rise in oil prices and the weaker Swiss franc. The forecast now stands at 0.2 percent for 2021, 0.4 percent for 2022 and 0.5 percent for 2023.
2021-03-25

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.