Switzerland Interest Rate 2000-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Switzerland was last recorded at -0.75 percent. Interest Rate in Switzerland averaged 1.13 percent from 2000 until 2015, reaching an all time high of 3.50 percent in June of 2000 and a record low of -0.75 percent in January of 2015. Interest Rate in Switzerland is reported by the Swiss National Bank.

      Forecast    
Switzerland Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
-0.75 -0.25 3.50 -0.75 2000 - 2015 percent Daily
In Switzerland, interest rates decisions are taken by the Swiss National Bank. The official interest rate is the three-month Swiss franc Libor. The SNB regulates the three-month Libor indirectly through its main financing and liquidity-absorbing operations, which comprise short-term repo transactions. This page provides - Switzerland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Switzerland Interest Rate - was last refreshed on Saturday, January 31, 2015.


Switzerland Discontinues Currency Ceiling; Cuts Rates


The Swiss National Bank decided on January 15th to abandon the minimum exchange rate of CHF 1.20 per euro, as recent euro fall has caused the Swiss franc to weaken against the USD. Policymakers also decided to lower the deposit rate by 50 bps to -0.75 percent.

SNB press release:

The Swiss National Bank is discontinuing the minimum exchange rate of CHF 1.20 per euro. At the same time, it is lowering the interest rate on sight deposit account balances that exceed a given exemption threshold by 0.5 percentage points, to −0.75%. It is moving the target range for the three-month Libor further into negative territory, to between –1.25% and −0.25%, from the current range of between −0.75% and 0.25%.

The minimum exchange rate was introduced during a period of exceptional overvaluation of the Swiss franc and an extremely high level of uncertainty on the financial markets. This exceptional and temporary measure protected the Swiss economy from serious harm. While the Swiss franc is still high, the overvaluation has decreased as a whole since the introduction of the minimum exchange rate. The economy was able to take advantage of this phase to adjust to the new situation.

Recently, divergences between the monetary policies of the major currency areas have increased significantly – a trend that is likely to become even more pronounced. The euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified.

The SNB is lowering interest rates significantly to ensure that the discontinuation of the minimum exchange rate does not lead to an inappropriate tightening of monetary conditions. The SNB will continue to take account of the exchange rate situation in formulating its monetary policy in future. If necessary, it will therefore remain active in the foreign exchange market to influence monetary conditions. 

SNB | Joana Taborda | joana.taborda@tradingeconomics.com
1/15/2015 10:49:21 AM


Recent Releases

Switzerland Introduces Negative Interest Rate
The Swiss National Bank decided to move to a deposit rate of -0.25 percent effective January 22nd, aiming to cool franc appreciation. The target range for three-month Libor was expanded to a 100 bps band of -0.75 percent to 0.25 percent. Published on 2014-12-18

Switzerland Leaves Monetary Policy Unchanged
The Swiss National Bank maintained its minimum exchange rate of CHF 1.20 per euro and left the target range for the three-month Libor unchanged at 0.0–0.25 percent, saying deflation risks have increased and the Swiss franc is still high. The central bank warned it is prepared to buy foreign currency in unlimited quantities to enforce the minimum exchange rate. Published on 2014-12-11


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-11 08:30 AM
SNB Interest Rate Decison 
0% 0% 0% 0%
2014-12-18 07:30 AM
SNB Interest Rate Decison 
-0.25% 0%
2015-01-15 09:15 AM
SNB Interest Rate Decison 
-0.75% -0.25%
2015-03-20 08:30 AM
SNB Interest Rate Decison 
-0.75% -1.75%
2015-06-18 08:30 AM
SNB Interest Rate Decison 
-2%
2015-06-19 08:30 AM
SNB Interest Rate Decison 
-2%


Switzerland Money Last Previous Highest Lowest Unit
Interest Rate -0.75 -0.25 3.50 -0.75 percent [+]
Interbank Rate -0.25 -0.12 11.50 -0.28 percent [+]
Money Supply M0 384920.00 379608.00 384920.00 5475.00 CHF Million [+]
Money Supply M1 568317.00 577761.00 577761.00 89321.00 CHF Million [+]
Money Supply M2 896605.00 905543.00 905543.00 198227.00 CHF Million [+]
Money Supply M3 950999.00 953781.00 953781.00 252820.00 CHF Million [+]
Foreign Exchange Reserves 541200.60 507230.10 541200.60 65200.50 CHF Million [+]
Loans to Private Sector 1236058.00 1229528.00 1239097.00 348012.00 CHF Million [+]
Banks Balance Sheet 1724260.00 1715482.00 1724260.00 595832.00 CHF Million [+]
Central Bank Balance Sheet 561201.90 525304.10 561201.90 68322.20 CHF Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 12.25 Jan/15 11.75 45.00 7.25 percent [+]
Canada 0.75 Jan/15 1.00 16.00 0.25 percent [+]
China 5.60 Dec/14 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.75 Jan/15 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Jan/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Jan/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Jan/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.75 Jan/15 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]