The SNB keeps its key interest rate at zero
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The Swiss National Bank (SNB) decided on Thursday to keep its key interest rate at 0%, where it has been since June 2025.
The central bank made its quarterly decision as inflation remains under control in Switzerland.
“If necessary, the [SNB] is prepared to intervene in the foreign exchange market to ensure appropriate monetary conditions,” a statement added.
Unlike the United States Federal Reserve and the European Central Bank (ECB), which have recently raised their key interest rates, the Swiss central bank has therefore opted to maintain the status quo on monetary policy.
Despite the slight acceleration in inflation in Switzerland, due to soaring oil prices, the SNB’s monetary policy “is appropriate for keeping inflation within the price stability range and supports economic activity”, it added.
The SNB aims to keep inflation between 0% and 2%.
The Swiss central bank nevertheless warned that “the trade policy environment and exchange rate developments remain sources of uncertainty”.
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Why Switzerland has such low interest rates
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Translated from French, reviewed by an English Department journalist.
