SNB raises rates for first time since 2007

The Swiss National Bank
The Swiss National Bank

The Swiss National Bank raised its policy rate for the first time in 15 years at its meeting on June 16.

The SNB’s three-member council voted to raise its interest rate from -0.75% to -0.25%, its first hike since 2007. SNB chairman Thomas Jordan said the hike was “aimed at preventing inflation from spreading more broadly to goods and services in Switzerland”.

The country’s year-on-year inflation reached 2.9% in May. Jordan said much of the increase was due to global supply bottlenecks and food

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: