SNB cuts rates by 25 basis points
Decrease prompted by sub-1% inflation forecast
The Swiss National Bank (SNB) cut the sight remuneration rate by 25 basis points to 1.25%, the central bank announced today (June 20).
This is the second rate cut after the SNB first lowered its rate in March. The rate prescribes the amount of interest paid on commercial banks’ deposits, but only to a certain threshold. Over the threshold, deposits are remunerated at 0.75%.
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