The gap between Swiss and eurozone interest rates has hit a record 2.5 percentage points, after the European Central Bank raised its benchmark to 2.5% at the end of last week while the Swiss National Bank sits at zero
n theory, savers here could earn far more by opening a euro account across the border.
But economists warn against this saying history shows the gains from interest-rate spreads are eventually wiped out by exchange-rate movements.
The wider gap reflects how much harder oil-price shocks hit eurozone households than Swiss ones, where energy is a smaller share of the shopping basket.
The SNB is under far less pressure than the ECB to raise rates as a result.
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