Swiss National Bank lowers interest rate by 50 bps to 0.50% - Breaking The News

Swiss National Bank lowers interest rate by 50 bps to 0.50%

12 December

1 min read

EPA-EFE/MICHAEL BUHOLZER

The Swiss National Bank (SNB) announced on Thursday that it had decided to lower its policy rate by 50 basis points (bps) to 0.50%, effective December 13.

The SNB's decision comes as "underlying inflationary pressure has decreased again this quarter," with annual inflation dropping from 1.1% in August to 0.7% in November, driven mainly by domestic services. Moreover, the bank expects the average inflation to stand at 1.1% for 2024, 0.3% for 2025, and 0.8% for 2026.

The SNB forecasts GDP growth of around 1% this year and between 1% and 1.5% in 2025. However, the bank sees "the future course of economic policy in the US" and Europe as "uncertain." A situation aggravated by existing "geopolitical tensions."

interest rates snb

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