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# Swiss National Bank Cuts Policy Rate by 50 Basis Points to 0.50% in Largest Reduction in Nearly a Decade
- URL: https://www.theglobalbanker.com/swiss-national-bank-cuts-policy-rate-50-basis-points-0-50-largest-reduction-decade/
- Published: 2024-12-12T14:17:00.000Z
- Updated: 2026-11-01T17:12:53.000Z
- Description: The SNB made a 50bp cut to 0.50% — its biggest single reduction in nearly ten years — with Swiss inflation at 0.7%.
- Author: TGB Editorial Team
- Tags: Central Banks, Europe, #archive

The Swiss National Bank cut its policy interest rate by 50 basis points to 0.50% on 12 December 2024, a larger reduction than markets had anticipated. The move is the SNB's largest rate cut in nearly a decade.

Consensus market expectations ahead of the December meeting had centred on a more modest 25-basis-point reduction. 

#### INFLATION

Consumer price inflation in Switzerland stood at 0.7% at the time of the December decision, within the SNB's 0-2% price stability target band. 

#### RATE HISTORY

At 0.50%, the rate remains above zero and above the negative territory — as low as minus 0.75% — that characterised Swiss monetary policy for much of the period between 2015 and 2022\. 

The Governing Board has previously made clear its readiness to intervene in foreign exchange markets.