The SNB made its latest monetary policy decision on Thursday. The central bank had previously increased its key interest rate in five successive steps.
Inflationary pressure has decreased slightly over the last quarter, the SNB said in a communiqué on Thursday. However, uncertainty remains high. It will monitor developments closely and adjust monetary policy “if necessary” to ensure price stability in the medium term.
The possibility of further monetary policy tightening is no longer explicitly mentioned in the communiqué on Thursday. However, the central bank is still prepared to be active in the foreign exchange market if necessary.
In June 2022, the SNB tightened the interest rate screw slightly for the first time in 15 years with a step of half a percentage point, followed by four further interest rate increases until last June.
Since the SNB’s last monetary policy assessment in September, inflation in Switzerland has fallen slightly again. Most recently, at 1.4%, it was back within the SNB target range of 0 to 2%.
The US Federal Reserve also extended its interest rate pause the evening before. The same is expected from the European Central Bank, which will announce its interest rate decision in the afternoon.
More
More
Why is the Swiss franc appreciating so much?
This content was published on
The Swiss franc is stronger against the euro than ever before. What does this mean for the export industry and for inflation?
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
Precious archaeological vases and coins returned to Italian museum
This content was published on
The Italian authorities have recovered over 2,500 precious ancient coins, vases and small sculptures that had been illegally dug up and sold in Switzerland, Eurojust announced on Monday.
PrimeEnergy Cleantech declared bankrupt by Swiss authorities
This content was published on
PrimeEnergy Cleantech has been officially declared bankrupt, the Swiss Official Gazette of Commerce (SOGC) reported on Monday.
This content was published on
The consumption of antibiotics has risen in Switzerland since the Covid-19 pandemic. However, compared to other European countries the Alpine country has one of the lowest levels of antibiotic usage.
Swiss financial watchdog foresees greater uncertainty due to geopolitics
This content was published on
The Swiss financial sector will face greater uncertainty due to the numerous geopolitical conflicts around the world, warns the Swiss Financial Market Supervisory Authority (FINMA).
Swiss museums to mark centenary of death of painter Félix Vallotton
This content was published on
Swiss museums will celebrate the centenary of the death of the artist Félix Vallotton (1865-1925) next year. A major retrospective is planned in Lausanne, his birthplace, in autumn.
Russian mission installs more ‘spy’ antennas in Geneva, Swiss TV report claims
This content was published on
Russian spies are strengthening their presence in Geneva, according to a report by Swiss public television, RTS. Russian officials have placed new satellite dishes on their diplomatic buildings without authorisation.
This content was published on
Switzerland should join NATO, as in the future it cannot rely on its long-standing tradition of neutrality for its defence, John Bolton, Donald Trump's former national security adviser, declared in an interview on Sunday.
This content was published on
A demonstration was held in Geneva on Sunday calling for an immediate end to the war in Ukraine. Around 50 Russians took part in the gathering outside the UN building.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss consumer inflation slows more than expected
This content was published on
Swiss inflation unexpectedly slowed to a two-year low, adding to the case for Swiss National Bank officials to keep borrowing costs steady when they meet next week.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.