The Swiss Times - Swiss News in English

The Swiss National Bank Does Not Taste the Interest Rate

The Swiss National Bank (SNB) has announced a pause in interest rate increases. After five consecutive rate hikes, the benchmark interest rate will remain at 1.75 percent, the SNB announced on Thursday. This decision follows a period of strong economic growth in Switzerland, which has seen the Swiss franc appreciate against other currencies. The SNB has been attempting to curb the appreciation of the franc by raising interest rates, but the pause in rate hikes suggests that the SNB believes the current rate is sufficient to maintain the franc's value. The SNB also noted that the Swiss economy is expected to remain strong in the near future, and that inflation remains low. The SNB will continue to monitor the situation and may adjust the interest rate if necessary.

©Keystone/SDA

Most Read

Sunday, February 11 – Round Up

11 February 2024
ZHdK's turmoil, dormant pension assets, and innovative solutions to the housing crisis. Stay informed with Sunday's top stories.

ETH President Highlights Financial Strain Despite Federal Savings Plan

11 February 2024
ETH President Mesot contradicts the Federal Council's plan to cut CHF 50 million from ETH Zurich, emphasizing the importance of reserves.

Swiss Production Sees Q4 Downturn Despite Sales Uptick

16 February 2024
Swiss production
Swiss production falls in Q4, challenging industry but with a rise in sales, showcasing sector resilience amidst economic complexities.

Temenos: Accounting Irregularities & Failed Products

16 February 2024
Temenos' journey through innovation, financial challenges, and accusations.

Stay in Touch!

Noteworthy

Zurich Commercial Court Summarizes Investor Lawsuits Regarding UBS/CS Merger
18 February 2024
Swiss security
Swiss Security Chief: “We Have to be Prepared for War”
18 February 2024