ZURICH - The Swiss National Bank cut its policy rate by 0.25 percentage points to 0 percent, effective 20 June. Inflationary pressure had eased again. The conditional forecast put average inflation at 0.2 percent for 2025. Sight deposits will be paid the policy rate up to a threshold, with a 0.25 point discount above it.
The bank again said it remains willing to be active in the foreign exchange market. GDP growth for 2025 was put in a 1 to 1.5 percent range.
Mortgages, exporters, a quiet street
Mortgage desks will reprice. Machine builders will still watch the euro. Zero does not make German orders appear. It only stops Swiss money from pulling in the other direction quite so hard.