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Bank slashes rates

Friday, 13 December 2024 06:30

The Swiss National Bank slashed interest rates by half a percent yesterday to 0.5% – a far bigger cut than the markets were expecting.

While it won’t be immediate, mortgage rates and rents are likely to come down in the near future. 

Analysts now expect rates to reach 0% by the end of next year. The central bank has already warned that negative rates are possible.

The falling rates means property prices are rising, as it’s seen as a better investment than bonds. But savers saw the effect immediately as banks cut rates on saving accounts. 

 

 

 

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