Tenants in Switzerland hit by another blow with rent prices to rise further

After the Federal Housing Administation (BWO) announced in June that rents will go up by about 3 percent this year for tenants whose leases are based on the reference rate — about 54 percent of contracts overall — another increase is on the way.

The central bank announced on Thursday that it was raising the key interest rate further by 0.25 percentage points to 1.75 percent to counter "inflationary pressure, which has increased again over the medium term."