SNB Holds Rates at 0% as Expected; Focus Shifts to Schlegel’s Press Conference for Policy Signalsserves

The Swiss National Bank (SNB) kept interest rates unchanged at 0%, in line with expectations.
Market attention now turns to Chairman Martin Schlegel’s press conference at 09:00 GMT, where investors will be seeking clearer guidance on the path of monetary policy.

Key Highlights from the SNB Monetary Policy Statement

• Interest Rate Framework:
  Banks’ sight deposits at the SNB will continue to receive interest at the policy rate, up to a defined threshold.
• FX Market Stance:
  The SNB reiterated its readiness to intervene in the foreign exchange market when necessary, maintaining its flexible approach to managing the franc.
• Inflation Outlook:
  Inflation pressures remain virtually unchanged from the previous assessment.
  • 2025 inflation: 0.2% (unchanged)
  • 2026 inflation: 0.3% (down from 0.5%)
  • 2027 inflation: 0.6% (down from 0.7%)