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Switzerland Interest Rate

Last Release
May 2020
Actual
-0.75 %
Forecast
-0.75 %
Previous
-0.75 %
Frequency
Daily
Units In
%
Next Release
Jun 18, 2020
Time to Release
14 Days 4 Hours
Highest
Lowest
Average
Date Range
Source
3.5 %
Dec 2000
-0.75 %
Nov 2018
0.68 %2000 - 2020Swiss National Bank
The SNB implements its monetary policy by fixing a target range for the reference interest rate, the Libor (London Interbank Offered Rate) for three-month interbank loans in Swiss francs. The target range normally has a bandwidth of 100 basis points (one percentage point) and, as a rule, the SNB holds the Libor in the middle of the defined range. As interest rates increasingly approached zero in the wake of the financial crisis, the Libor target range was narrowed. From 6 September 2011 to 15 January 2015, the main focus of implementation was on the minimum exchange rate of CHF 1.20 per euro, which the SNB enforced during this period. On 18 December 2014, the SNB decided to impose an interest rate of -0.25% on sight deposit account balances. With the announcement of a negative interest rate, the target range for the Libor was taken into negative territory for the first time, and extended to its usual width of 1 percentage point. On 15 January 2015, the SNB lowered the interest rate on sight deposits to -0.75% and moved the target range downwards to between -1.25% and -0.25%. Negative interest has applied since 22 January 2015.

Latest Updates

The Swiss National Bank held the SNB policy rate at -0.75 percent during its December meeting, saying that the expansionary monetary policy continues to be necessary given the inflation outlook in the country. Policymakers agreed that the franc remains highly valued, and that the situation on the foreign exchange market is still fragile. The bank also signaled interest rates will remain at current levels through at least 2021, saying inflation will be 0.4 percent in 2019, 0.1 percent in 2020 and 0.5 percent in 2021.

Switzerland Interest Rate History

Last 12 readings

Latest Releases and Calendar Events

DATETIMETITLE
Dec 12, 201909:07SNB Holds Interest Rates as Expected
Sep 19, 201907:47SNB Holds Policy Rate at -0.75%
Jun 13, 201907:51SNB Holds Rates, Raises Inflation Outlook
Mar 21, 201908:45Switzerland Keeps Rates Steady, Lowers Inflation Forecasts
DATETIMEEVENTActual
Nov 3, 201515:00SNB Chair Jordan Speech
Sep 21, 201505:00SNB Monthly Bulletin
Sep 1, 201514:00SNB Chair Jordan Speech
Aug 21, 201505:00SNB Monthly Bulletin
Jun 25, 201506:00SNB Chair Jordan Speech
Jun 18, 201502:30SNB Financial Stability Report
Apr 24, 201506:00SNB Chair Jordan Speaks

A Look at the Markets

Educational Pieces on Marco Indicators

all education articles

Switzerland money Indicators

All Switzerland indicators
Indicator
Last
Previous
Min
Max
Unit
Frequency
Range
Banks Balance Sheet
2,119,138.53
Mar 2020
2,124,644.57
Feb 2020
595,832
Dec 1987
2,124,644.57
Feb 2020
CHF MillionMonthly1987 - 2020
Central Bank Balance Sheet
903,488.95
Apr 2020
852,310.87
Mar 2020
68,322.2
Jan 1997
903,488.95
Apr 2020
CHF MillionMonthly1996 - 2020
Deposit Interest Rate
-0.38
Mar 2020
-0.4
Feb 2020
-0.41
Aug 2019
9.75
Oct 1981
%Monthly1974 - 2020
Foreign Exchange Reserves
799,861
Apr 2020
763,405.2
Mar 2020
42,137.6
Apr 2005
799,861
Apr 2020
CHF MillionMonthly1999 - 2020
Interbank Rate
-0.66
Jun 2020
-0.66
Jun 2020
-0.96
Jan 2015
10
Jan 1990
%Daily1986 - 2020
Interest Rate
-0.75
May 2020
-0.75
Apr 2020
-0.75
Nov 2018
3.5
Dec 2000
%Daily2000 - 2020

Interest Rate across Europe

Interest Rate global view
Country
Last
Previous
Min
Max
Unit
Frequency
Range
Albania
0.5
May 2020
0.5
Apr 2020
0.5
Mar 2020
8.5
Nov 2002
%Daily2001 - 2020
Armenia
5
May 2020
5
Apr 2020
5
Apr 2020
10.5
Jun 2015
%Daily2010 - 2020
Euro Area
0
Apr 2020
0
Mar 2020
0
Oct 2018
4.75
Apr 2001
%Daily1998 - 2020
Belarus
8
May 2020
8.75
Apr 2020
8
May 2020
480
Nov 1994
%Daily1991 - 2020
Bosnia and Herzegovina
3.12
Mar 2020
2.88
Feb 2020
2.88
Feb 2020
80.25
Jan 1999
%Monthly1998 - 2020
Croatia
2.5
Mar 2020
2.5
Feb 2020
2.5
Nov 2018
4,290.85
Sep 1993
%Daily1992 - 2020

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