Blog

1. Interest rate cut:
   • • The SNB is lowering the SNB key interest rate again by 0.25 percentage points to 1.25%.
   • • The change comes into force on June 21, 2024.
      
2. Inflation and forecast:
   • • Inflation rose to 1.4% in May, mainly due to higher inflation in rents, tourism services and petroleum products.
     The inflation forecast for 2024 is 1.3%.
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3. Global economy:
   • • Solid growth in the first quarter of 2024, inflation moving sideways but still above central bank targets.
   • • Some central banks have eased their monetary policy, but it remains restrictive in many countries.
   • • Expected gradual decline in inflationary pressure abroad and moderate recovery of the global economy.
      
4. Swiss economy:
   • • Moderate growth in the first quarter of 2024, expansion in the service sector, stagnating industrial production.
   • • Slight increase in unemployment, normal utilization of production capacity.
   • • Inflation trends abroad and geopolitical tensions could influence the global economy.
   • • Forecasts for Switzerland are also subject to uncertainty, particularly due to developments abroad.
      
5. Mortgage and real estate market:
   • • With the interest rate cut, the Saron mortgage is becoming even more attractive. The average interest rate now ranges, depending on the
     between 1.90% and 2.20%, depending on the individually agreed customer margin.

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