Switzerland's Central Bank Holds Policy Rate at 1.75%

By Ed Frankl

Switzerland's central bank on Thursday held its key policy rate steady as expected at 1.75%, and signaled that uncertainty was clouding the decision-making path ahead.

"Inflationary pressure has decreased slightly over the past quarter. However, uncertainty remains high," the Swiss National Bank said.

The decision comes after annual inflation stood at 1.4% in November, down from 1.7% in October, driven by lower inflation on goods and tourism services, it said.

But inflation is likely to tick up again in the coming months on higher electricity prices, rents and on a rise in sales tax, the SNB said.

Write to Ed Frankl at [e-mail]

(END) Dow Jones Newswires

12-14-23 0357ET