Swiss National Bank, the central bank of Switzerland, announced that it has increased interest rates after its meeting today. SNB, which increased its libor rate to 1.50% with an increase of 50bps in the previous meeting, is more cautious this time.
Speaking after the meeting, the officials emphasized the fight against inflation and gave the message that they will continue to tighten if necessary.
Inflation Decreases in Switzerland
According to the statistics agency, annual consumer inflation, which was around 3.4% in the first months of 2023, dropped to 2.2 points as of May.
Satisfied with the decline in inflation, central bank officials are concerned about new pressure in the medium term. While the policy rate in Switzerland was negative during the pandemic process, SNB pressed the button in June 2022. The libor rate from -0.75% has increased to 1.75% today.
Today, except for Switzerland, the central banks of the UK and our country will announce the interest rate decision.
