Switzerland Interest Rate 2000-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Switzerland was last recorded at -0.25 percent. Interest Rate in Switzerland averaged 1.14 percent from 2000 until 2014, reaching an all time high of 3.50 percent in June of 2000 and a record low of -0.25 percent in December of 2014. Interest Rate in Switzerland is reported by the Swiss National Bank.

      Forecast    
Switzerland Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
-0.25 0.00 3.50 -0.25 2000 - 2014 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 Tuesday, December 23, 2014.


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.

Russian financial crisis and Euro Area monetary stimulus increased demand for safe assets, putting pressure on the franc. In an attempt to make it less attractive to hold Swiss franc investments, the central bank will impose an interest rate of –0.25 percent on deposit account balances at the central bank above 10 million Swiss francs. 

Excerpts from the SNB press release:

The Swiss National Bank (SNB) is imposing an interest rate of –0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month Libor into negative territory. It is thus expanding the target range for the three-month Libor to –0.75% to 0.25% and extending it to its usual width of 1 percentage point. Negative interest will be levied on balances exceeding a given exemption threshold.

Negative interest will be charged as of 22 January 2015 until further notice. Negative interest is charged only on the portion of the sight deposit account balance which exceeds a certain threshold. The exemption threshold applies to each individual account holder and shall be at least CHF 10 million.

The SNB reaffirms its commitment to the minimum exchange rate of CHF 1.20 per euro, and will continue to enforce it with the utmost determination. It remains the key instrument to avoid an undesirable tightening of monetary conditions resulting from a Swiss franc appreciation. Over the past few days, a number of factors have prompted increased demand for safe investments. The introduction of negative interest rates makes it less attractive to hold Swiss franc investments, and thereby supports the minimum exchange rate. The SNB is prepared to purchase foreign currency in unlimited quantities and to take further measures, if required.

SNB | Joana Taborda | joana.taborda@tradingeconomics.com
12/18/2014 10:12:13 AM


Recent Releases

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

Swiss National Bank Reaffirms Minimum Exchange Rate
At its September 2014 meeting, 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. Policymakers revised downwards its growth and inflation projections. Published on 2014-09-18


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-18 08:30 AM
SNB Interest Rate Decison 
0% 0.0% 0% 0%
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%
2015-03-20 08:30 AM
SNB Interest Rate Decison 
-0.25% -0%
2015-06-18 08:30 AM
SNB Interest Rate Decison 
2015-06-19 08:30 AM
SNB Interest Rate Decison 
-0%


Switzerland Money Last Previous Highest Lowest Unit
Interest Rate -0.25 0.00 3.50 -0.25 percent [+]
Interbank Rate -0.12 -0.15 11.50 -0.28 percent [+]
Money Supply M0 379608.00 374766.00 382580.00 5475.00 CHF Million [+]
Money Supply M1 570473.00 566439.00 570473.00 89321.00 CHF Million [+]
Money Supply M2 897118.00 892516.00 897118.00 198227.00 CHF Million [+]
Money Supply M3 945677.00 941993.00 945677.00 252820.00 CHF Million [+]
Foreign Exchange Reserves 504638.00 507562.90 507562.90 65200.50 CHF Million [+]
Loans to Private Sector 1239097.00 1234176.00 1239097.00 348012.00 CHF Million [+]
Banks Balance Sheet 1719350.00 1717274.00 1719350.00 595832.00 CHF Million [+]
Central Bank Balance Sheet 524740.10 522046.10 524740.10 68322.20 CHF Million [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 11.75 Dec/14 11.25 45.00 7.25 percent [+]
Canada 1.00 Dec/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Dec/14 0.05 4.75 0.05 percent [+]
France 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Dec/14 0.05 4.75 0.05 percent [+]
India 8.00 Dec/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Dec/14 7.75 12.75 5.75 percent [+]
Italy 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Dec/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Dec/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Russia 17.00 Dec/14 9.50 17.00 5.00 percent [+]
South Korea 2.00 Dec/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Switzerland -0.25 Dec/14 0.00 3.50 -0.25 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Dec/14 0.50 17.00 0.50 percent [+]
United States 0.25 Dec/14 0.25 20.00 0.25 percent [+]