On 14 December 2023, the Swiss National Bank (SNB) said it was ending its interest rate tightening cycle after a clear slowdown in inflation. With inflation rising more slowly than the central bank’s 2% ceiling (it was 1.4% in November 2023), the SNB left its key interest rate at 1.75% for a second consecutive meeting. […]
Swiss car insurance to rise 15% in 2024
With all of the price hikes in Switzerland it is difficult to believe inflation is running at around 2% (it was 1.4% in November 2023). Health insurance premiums in 2024 are on average 8.7% higher than they were in 2023. Now Swiss car insurance is set to get more costly. The insurance advisor VZ predicts […]
Swiss Rail launches a new pass
The previously announced half price plus rail pass, which has some of the features of an annual pass, will be available from mid-December 2023, reported Swiss Rail this week. The pass comes in three flavours: Half-Fare travelcard PLUS 1000, Half-Fare travelcard PLUS 2000 and Half-Fare travelcard PLUS 3000. They all work the same. You essentially […]
Swiss inflation down in November
After rising in October 2023, Swiss inflation dipped in November by 0.2 percentage points to bring annual inflation to 1.4%, reported Switzerland’s Federal Statistical Office (FSO) this week. November’s fall brings the rate 0.6 percentage points below the Swiss National Bank’s (SNB) preferred maximum of 2% – the SNB equates price stability with a rise […]
Swiss widows pensions to be cut to remove discrimination
The rules around state pensions for widows and widowers are significantly different, something deemed discriminatory by a ruling from the European Court of Human Rights (ECHR) in 2022. To remove the discrimination, the federal government plans to cut pensions for widows to bring them into line with those for widowers. Currently, women get a lifelong […]
Zurich world’s most expensive city (again)
According to the Economist’s annual ranking of cities, Zurich came out top in the report published on 29 November 2023. Tied in first place this year were Singapore and Zurich. Singapore is no stranger to the top spot: it has ranked as the priciest place to live in nine of the past 11 years. Groceries, […]
Swiss deficit: federal government discusses higher taxes
Switzerland, a nation with a reputation for well managed finances, like much of the world is struggling to cover rising costs. Projected spending on the military and state pensions are key challenges. Spending on refugees and healthcare are additional head winds. The federal government has been looking hard for savings. However, this week talk turned […]
Swiss rents set to rise after mortgage rate rise
On 1 December 2023, Switzerland’s Federal Housing Office announced the reference mortgage interest rate for rental agreements will rise from 1.50% to 1.75%. The reference rate is mentioned in many Swiss tenancy agreements. If the rate goes up landlords can increase rents. If the rate goes down tenants can demand lower rent. The rate is […]
Rising Swiss health premiums reduce disposable income once more
Since 1999, the cost of health insurance has more than doubled. Basic compulsory insurance is now 2.36 times what it was in 1999, while complimentary optional insurance is up by 30%. Overall, disposable income has been reduced by 5.3% by the rising cost of insurance over the last 25 years. Six of the last 25 […]
Sharp rise in tenancy disputes in Switzerland
The number of tenancy disputes in Switzerland jumped 42% in the first half of 2023 compared to the second half of 2022, reported the government this week. Across Switzerland a total of 17,519 tenancy or lease arbitration proceedings were initiated between January and June 2023. The rising number of disputes follows rent hikes, often triggered […]
