Swiss National Bank cuts intrest rates

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The Swiss National Bank (SNB) has cut its interest rate by 0.25 percentage points to 0%, starting June 20, 2025. This is due to falling inflation, which dropped from 0.3% in February to -0.1% in May, mainly because of cheaper oil and lower travel prices. Banks will now earn 0% interest on their deposits at the SNB, up to a certain limit. Money above that limit will still get a 0.25% discount. The SNB also said it may act in the currency market if needed.



This rate cut is meant to support the economy and keep inflation within a stable range. The SNB expects inflation to stay low, forecasting 0.2% for 2025, 0.5% for 2026, and 0.7% for 2027, assuming the rate stays at 0%. In Switzerland, the economy grew strongly in the first quarter, but much of that came from early exports to the U.S. Once adjusted, growth was more modest. The SNB expects Swiss growth of 1% to 1.5% in both 2025 and 2026, with a slight rise in unemployment. It says risks from the global economy remain the biggest concern.
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