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Thursday, May 23, 2024

Switzerland. interest rates. There is a decision by the central bank

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The Swiss National Bank (SNB) raised interest rates by 25 basis points to 1.75 percent, the bank announced in a Thursday communiqué. Interest rates in Switzerland affect the installments of loans linked to the Swiss franc exchange rate.

Thursday’s decision of the SNB is in line with analysts’ forecasts.

This step is aimed at “counteracting the inflationary pressure that has increased,” the SNB said in a statement.

Another rate hike

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Thursday an increase in interest rates by 25 basis points is the weakest since the SNB started tightening monetary policy a year ago.

The bank has signaled it may act further to curb inflation.

Main photo source: Shutterstock

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