SNB raises rates by 50 bps from 0.50% to 1.0%, as widely expected

In doing so, it is countering increased inflationary pressure and a further spread of inflation.

It cannot be ruled out that additional rises in the snb policy rate will be necessary to ensure price stability over the medium term.

To provide appropriate monetary conditions, the snb is also willing to be active in the foreign exchange market as necessary.

SNB sees 2022 swiss growth at around 2% vs sept forecast for growth around 2%.

SNB sees 2023 swiss growth at around 0.5%.

SNB sees Q3 2025 inflation at 2.1%.

Will remain active in foreign exchange markets as necessary.

It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term.

To provide appropriate monetary conditions, the SNB is also willing to be active in the foreign exchange market as necessary.

Sight deposits held at the SNB will be remunerated at the snb policy rate of 1.0% up to a certain threshold.

Sight deposits above this threshold will be remunerated at an interest rate of 0.5%, and thus still at a discount of 0.5 percentage points relative to the SNB policy rate.

Numerous central banks have further tightened their monetary policy; in its baseline scenario for the global economy, the SNB expects this challenging situation to persist for now.