Switzerland Interest Rate  2000-2016 | Data | Chart | Calendar | Forecast

The Swiss National Bank left its deposit interest rate on hold at record low of -0.75 percent on December 10th saying that the current monetary policy helps to stabilize price developments and support economic activity. The bank also said it would remain active if necessary in the currency market to weaken the overvalued Swiss franc. Interest Rate in Switzerland averaged 1.06 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.

Switzerland Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
-0.75 -0.75 3.50 -0.75 2000 - 2016 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. Switzerland Interest Rate - actual data, historical chart and calendar of releases - was last updated on February of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-06-18 08:30 AM SNB Interest Rate Decison -0.75% -0.75% -0.75% -0.75%
2015-09-17 08:30 AM SNB Interest Rate Decison -0.75% -0.75% -0.75% -0.75%
2015-12-10 08:30 AM SNB Interest Rate Decison -0.75% -0.75% -0.75% -0.75%
2016-03-17 08:30 AM SNB Interest Rate Decison -0.75% -0.75%
2016-03-23 02:00 PM SNB Quarterly Bulletin
2016-06-16 07:30 AM SNB Interest Rate Decison -0.75%

Switzerland Leaves Deposit Rate at -0.75%


The Swiss National Bank left its deposit interest rate on hold at record low of -0.75 percent on December 10th saying that the current monetary policy helps to stabilize price developments and support economic activity. The bank also said it would remain active if necessary in the currency market to weaken the "significantly overvalued" Swiss franc.

Excerpts from the SNB press release:

The Swiss National Bank (SNB) is maintaining its expansionary monetary policy. The target range for the three-month Libor remains at between –1.25% and –0.25%, and the interest rate on sight deposits with the SNB is unchanged at –0.75%. Despite depreciating somewhat in recent months, the Swiss franc is still significantly overvalued. The negative interest rate and the interest rate differential with other currencies make the Swiss franc less attractive, and continue to help weaken it. At the same time, the SNB will remain active in the foreign exchange market in order to influence the exchange rate situation, as necessary. The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to ease pressure on the Swiss franc. The SNB’s monetary policy thus helps to stabilise price developments and support economic activity.

Overall, the new conditional inflation forecast differs little from that of September. It indicates slightly higher inflation in the short term, and that inflation had already bottomed out in the third quarter. Owing to a slight deterioration in the outlook for the global economy, medium-term inflation is somewhat lower than predicted in September. For the current year, inflation is forecast at –1.1%, a 0.1 percentage point rise on last quarter. For 2016, an inflation rate of –0.5% is expected, and for 2017, the forecast is now at 0.3% instead of 0.4%. The conditional inflation forecast is based on the assumption that the three-month Libor will remain at –0.75% over the entire forecast horizon.

Global economic growth in the third quarter was below expectations, mainly due to weaker manufacturing activity around the globe and sluggish world trade. In contrast to manufacturing, the services sector performed well in most countries due to robust domestic demand.

The SNB has revised its growth forecast for the global economy slightly downwards for the short term. Overall, its assessment of global economic prospects is cautiously optimistic. Nevertheless, there are significant risks. The structural change underway in China could continue to hold back global manufacturing and investment activity. Equally, structural weaknesses in Europe as well as current concerns about public safety could also weigh on economic developments.

The slower pace of global economic growth was also felt in Switzerland, with the first official GDP estimate indicating stagnation in the third quarter. Economic performance thus came in below expectations. A close examination of a broad range of indicators leads to a somewhat more positive assessment of the economy. Nevertheless, capacity utilisation remains unsatisfactory, and demand for labour muted. For 2015, the SNB still anticipates real growth of just under 1% in Switzerland. The gradual improvement of the global economy is likely to further strengthen foreign demand for Swiss goods and services. Domestic demand also looks set to remain robust. For 2016, the SNB expects growth of approximately 1.5%.

SNB | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/10/2015 8:50:52 AM

Switzerland Money Last Previous Highest Lowest Unit
Interest Rate -0.75 -0.75 3.50 -0.75 percent [+]
Interbank Rate -0.76 -0.76 10.00 -0.96 percent [+]
Money Supply M0 474500.00 470488.00 474500.00 5475.00 CHF Million [+]
Money Supply M1 557631.00 564377.00 577761.00 89321.00 CHF Million [+]
Money Supply M2 906170.00 916674.00 916674.00 198227.00 CHF Million [+]
Money Supply M3 965179.00 979309.00 979309.00 252820.00 CHF Million [+]
Foreign Exchange Reserves 601349.30 605593.60 605593.60 65200.50 CHF Million [+]
Banks Balance Sheet 1872249.00 1858063.00 1872249.00 595832.00 CHF Million [+]
Loans to Private Sector 1330766.00 1327036.00 1330766.00 348012.00 CHF Million [+]
Deposit Interest Rate 0.02 0.03 8.75 0.02 percent [+]
Central Bank Balance Sheet 640151.80 634877.30 640151.80 68322.20 CHF Million [+]




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