The Swiss National Bank Does Not Taste the Interest Rate
- 21 Sep 2023 8:01 am CET
- Archive Page Link
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.