Switzerland

Roughly neutral

Policy rate

0.00%

Last move Jun 2025

Inflation

0.15%

As of null

Real policy rate

-0.15%

Policy rate less inflation

Debt to GDP

38.50%

2026 est.

Inflation targetNone published

Policy rate vs target—

Last move-25 bps cut

Months at current rate15

Real GDP growth1.30%

Next scheduled decisionNot published

Policy rate path, latest five years. Cycle peak 7.00% (Aug 1991).

The verdict

Switzerland sets its policy rate at 0.00%, against inflation of 0.15% — a real rate of -0.15%, with the policy rate sitting below the inflation rate. The most recent decision was a 25bp cut in Jun 2025. The rate has held there for about 15 months. Inflation targeting: Price stability: CPI below 2% (SNB definition, 0-2% range). On the fiscal side, the economy carries government debt of 38.5% of GDP (2026 est.) and real GDP growth of 1.3%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

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