BCGE adjusts its lending rates
In response to the SNB's decision, BCGE adjusts its lending rates immediately
At its meeting on 16 June, the Swiss National Bank (SNB) decided to tighten its monetary policy by raising its policy interest rate by half a percentage point to -0.25% (previously -0.75%). The new interest rate for sight deposits held at the SNB will apply from 17 June.
Following this announcement, the BCGE immediately adjusted its lending rates. This adjustment was made for the bank's clients concerned as from Friday 17 June.
The SNB has stated that this interest rate increase is intended to curb inflation in Switzerland. It cannot be ruled out that further interest rate increases will be necessary in the near future to achieve this objective.