Tuesday, October 4, 2022

“Interest rates on bank accounts will also rise in the medium term”

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Thomas Jordan takes a seat to announce the return of interest rates to positive territory.

Interview: Christian Kolbe

Finally! Many must have breathed a sigh of relief when the phase of negative interest rates in Switzerland ended after almost eight years. The Swiss National Bank raises the key interest rate by 0.75 percentage points. This is now plus 0.5 percent. The Presidium of the Swiss National Bank (SNB) is also feeling relieved that interest rates are back in positive territory. In an interview with Blick, Thomas Jordan (59), President of the SNB, explains the reasons for the end of the negative interest rates that the SNB introduced at the end of 2014.

Blick: With today’s rate hike, the SNB is ending the unique phase in monetary policy.Thomas Jordan: We’ve had negative interest rates for almost eight years now. With this step, we are now back in the area of ​​positive interest rates. That’s a good development.

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