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Important information for frankowiczów. Swiss interest rates up

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The Swiss National Bank (SNB) raised interest rates by 50 basis points to 1.50 percent, the bank announced in a Thursday communiqué.

This is the second increase by 50 bps in a row. The bank raised interest rates by 50 bp. also at its previous meeting – in December 2022. Thursday’s decision of the SNB is in line with analysts’ forecasts.

The bank said it was not ruling out more interest rate increases. The bank indicated that it was ready to intervene in the currency market if necessary.

The bank announced that in 2023 GDP will increase by approx. 1 percent. The SNB forecasts this year’s inflation at the level of 2.6 percent. and in 2024 and 2025 2.0 percent each.

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Main photo source: MDart10 / Shutterstock

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