Swiss Central Bank Lowers Policy Rate To Zero As Expected

RTTNews | 100 gün önce

(RTTNews) - The Swiss National Bank reduced its policy rate to zero on Thursday as inflation turned negative and the currency strengthened further amid global trade tensions.

The bank decided to lower the SNB policy rate by 0.25 percentage points to zero percent. This was the sixth consecutive reduction.

The bank has reduced the key rate by 175 basis points since March 2024. The bank had exited its negative rate in 2022 after holding it for over seven years.

President Martin Schlegel said the board is bringing the interest rate to the verge of negative territory.

The bank today said the sight deposits held at the SNB will be remunerated at the policy rate up to a certain threshold. The discount for sight deposits above this threshold remained unchanged at 0.25 percentage points.

"Inflationary pressure has decreased compared to the previous quarter," the bank said. "With today's easing of monetary policy, the SNB is countering the lower inflationary pressure," SNB added.

Inflation turned negative in May due to the developments of prices in tourism and for oil products.

The bank halved its inflation outlook for 2025 to 0.2 percent from 0.4 percent and lowered the forecast for 2026 to 0.5 percent from 0.8 percent.

For 2027, inflation is seen at 0.7 percent, below the 0.8 percent projected in March.

Following the strong growth in the first quarter, the bank forecast economic growth to slow again and remain rather subdued over the remainder of the year. The bank expects the economy to grow in the range of 1 percent to 1.5 percent in 2025.

The bank cited the developments abroad continued to represent the main risk to the Swiss economic outlook.

"Unless the situation changes drastically between now and September, for example as a result of a sharp weakening of the Swiss franc or a very sharp rise in the price of oil products in Swiss francs, today's decision paves the way, in our view, for a further rate cut in September and a return to negative interest rates," ING economist Charlotte de Montpellier said.

Although the SNB acknowledged the adverse effects of negative interest rates, it seems increasingly likely that it will have no choice but to move in this direction at its next meeting, the economist added.

Etiketler: CHF

Swiss National Bank Pauses Policy Easing

The Swiss National Bank left its policy rate unchanged after easing for six straight meetings as higher US trade tariff dampened the economic outlook amid weak inflation. The SNB retained its policy rate unchanged at zero percent, as widely expected. Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold.

RTTNews | 2 gün önce

Switzerland Logs Weaker Growth, Trims 2026 Outlook

The Swiss economy expanded modestly in the second quarter, as estimated earlier, and higher U.S. tariffs are set to push down growth prospects, the State Secretariat for Economic Affairs said Thursday. Gross domestic product grew 0.1 percent from the first quarter, unchanged from the flash estimate. Growth softened notably from 0.7 percent in the first quarter.

RTTNews | 30 gün önce

Swiss GDP Growth Accelerates In Q1

Switzerland's economic growth accelerated in the first quarter on a notable rebound in exports to the US ahead of the increase in trade tariffs, official data revealed on Monday. Gross domestic product expanded by adjusted 0.8 percent sequentially after rising 0.6 percent in the fourth quarter of 2024, the State Secretariat for Economic Affairs, or SECO, reported.

RTTNews | 117 gün önce

Swiss Central Bank Cuts Policy Rate To Lowest Since 2022

The Swiss National Bank trimmed its interest rate for the fifth consecutive meeting on Thursday, amid heightened downside risks to inflation. The policy board, led by President Martin Schlegel, lowered the policy rate by 25 basis points to 0.25 percent from 0.50 percent. This followed a 50 basis point cut in December. The bank has reduced the key rate by 150 basis points since March 2024.

RTTNews | 191 gün önce

Swiss GDP Growth Improves In Q4

Switzerland's economic growth improved more than estimated in the fourth quarter on consumption and exports, official data revealed on Thursday. GDP grew 0.5 percent from the previous quarter, following a 0.2 percent rise in the third quarter, the State Secretariat for Economic Affairs, or SECO. The fourth quarter growth marginally exceeded the flash estimate of 0.4 percent.

RTTNews | 212 gün önce

Swiss Franc Slides As European Shares Traded Higher

The Swiss franc weakened against other major currencies in the European session on Monday, as the European stocks traded higher heading into a holiday-shortened week.

RTTNews | 278 gün önce

Swiss Central Bank Cuts Policy Rate By 50 Bps

Amid easing inflationary pressures, the Swiss National Bank reduced its benchmark rate by a sharper-than-expected 50 basis points to curb the strength of the Swiss franc. At the first policy meeting of Martin Schlegel as chairman, the policy rate was lowered to 0.50 percent from 1.00 percent. The new rate takes effect on December 13.

RTTNews | 289 gün önce

Swiss Central Bank Trims Policy Rate; Hints At Further Cuts

The Swiss National Bank reduced its key policy rate by 25 basis points for the third straight meeting and signaled additional easing as the franc's strength had lowered inflationary pressure. At the final rate-setting meeting of Thomas Jordan as chairman, the policy board lowered the policy rate to 1.0 percent from 1.25 percent, as expected.

RTTNews | 366 gün önce

EURUSD	1.1702	GBPUSD	1.3401	AUDUSD	0.6545
USDJPY	149.492	USDCAD	1.3937	USDCHF	0.7977