The Swiss National Bank hiked its policy rate by 50bps to -0.25% in its June 2022 meeting, surprising markets that expected the interest rate to be held constant, and did not rule out further rate increases in coming meetings. It was the first rate hike since 2007 after the central bank kept its policy rate at record lows of -0.75% since 2015. The decision was made aimed to counter increased inflationary pressure and prevent price growth from spreading more broadly to goods and services, after surging prices for energy and food lifted headline inflation to 14-year highs of 2.9%. The SNB also emphasized it is willing to intervene on the foreign exchange market if needed. The bank revised year-end inflation forecasts to 2.8% for this year, compared to previous projections of 2.1%, despite the rate change. Also, the SNB held growth forecasts to 2.5% this year, expecting output to remain favorable and unemployment to stay low, should energy supply in Europe not be adversely affected 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 June of 2022.
Interest Rate in Switzerland is expected to be -0.25 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 1.00 percent in 2023 and 1.50 percent in 2024, according to our econometric models.