How fast is too fast for the SNB? – Commerzbank
|The Swiss franc has emerged as a clear winner amidst the recent market turbulence following Donald Trump's tariff announcement, appreciating significantly against major currencies.
Swiss National Bank (SNB)
SNB lowers key policy rate to 0.25% as expected
LATEST SNB MEASURES TO BATTLE INFLATION
SNB continues to intervene only cautiously – Commerzbank
|Yesterday's figures on the Swiss National Bank's (SNB) foreign exchange interventions, which amounted to around 100 million in the fourth quarter, once again confirmed that the SNB is currently intervening in the foreign exchange market rather cautiously, Commerzbank's FX analyst Michael Pfister notes.
SNB’s Tschudin: Economic situation for Switzerland has become considerably more uncertain
|Swiss National Bank (SNB) governing board member Petra Tschudin is addressing the post-policy meeting press conference, explaining the decision behind the 25 basis points (bps) interest rate cut to 0.25%.
SNB latest news
SNB latest analysis
March MEETING REVIEW
SNB cuts Sight Deposit Rate by 25 bps to 0.25% as expected
|The Swiss National Bank (SNB) lowered the benchmark Sight Deposit Rate by 25 basis points (bps) to 0.25% from 0.50%, following its monetary policy assessment for the March quarter on Thursday.
December MEETING REVIEW
Breaking: SNB surprises with a 50 bps cut to Sight Deposit Rate
|Following Thursday's quarterly monetary policy assessment, the Swiss National Bank (SNB) cut the benchmark Sight Deposit Rate by 50 basis points (bps) to 0.50% from 1.00%.
September MEETING REVIEW
SNB lowers Sight Deposit Rate by 25 bps to 1.0%, as expected
|The Swiss National Bank (SNB) announced on Thursday that it lowered the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.25% to 1.00% after concluding its quarterly monetary policy assessment.
Related content
Big Picture
What is the SNB?
The Swiss National Bank (SNB) is Switzerland’s central bank, responsible for the country’s monetary policy and the sole issuer of Swiss Franc (CHF) banknotes. Its primary objective is to ensure price stability while considering economic developments, thereby fostering an environment conducive to economic growth.
To ensure price stability, the SNB aims to maintain appropriate monetary conditions, which are determined by the interest rate level and exchange rates. For the SNB, price stability means a rise in the Swiss Consumer Price Index (CPI) of less than 2% per year.
The SNB also manages currency reserves and contributes to financial system stability by analyzing sources of risk and identifying areas where action is needed.
The official website, on X and YouTube
Who is SNB chair?
Martin Schlegel is a Swiss economist and Chairman of the Governing Board of the Swiss National Bank (SNB). He graduated in economics from the University of Zurich in 2003 and thereafter joined the Research unit at the SNB. Over the years, he has held various roles at the central bank, including leading the SNB’s Foreign Exchange and Gold Unit and heading the bank’s branch office in Singapore. The Federal Council appointed Schlegel as Chairman of the Governing Board with effect from October 1, 2024.
He is a member of the Executive Committee of the KOF Swiss Economic Institute at ETH Zurich and the president of the Foundation Council of the Study Center Gerzensee.
Interest rates latest news
The World Interest Rates Table
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.