Loans become cheaper SNB lowers key interest rate by 0.25 percentage points to 1.25 percent
The Swiss National Bank (SNB) has lowered its key interest rate once again. The SNB key interest rate has fallen by 0.25 percentage points. It now stands at 1.25 percent, as the central bank announced on Thursday.
No time? blue News summarizes for you
- The Swiss National Bank has lowered the SNB key interest rate by 0.25 points to 1.25 percent.
- This means that loans will become cheaper.
- The SNB is announcing its assessment of the Swiss financial center today.
The underlying inflationary pressure has fallen again compared to the previous quarter, the SNB explained in a communiqué on Thursday. By lowering the SNB's key interest rate, it is able to maintain appropriate monetary conditions.
Back in March, the SNB was one of the first major central banks worldwide to lower its key interest rate, which came as a surprise. The SNB had previously raised the key interest rate from -0.75% in June 2022 to 1.75% in just five steps and then left it unchanged twice.
The SNB will continue to monitor the development of inflation closely, it said on Thursday. It will adjust its monetary policy "if necessary" in order to ensure price stability in the medium term as well. And the SNB is still prepared to be active on the foreign exchange market if necessary.
20.06.2024, 09:33
04.07.2024, 05:47
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