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.
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
Norwegian zombie film wins main prize at Swiss festival NIFFF
This content was published on
More than 55,000 people celebrated the fantastic film at the International Fantastic Film Festival in Neuchâtel (NIFFF) - fewer than last year.
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.