Benign inflation keeps Swiss National Bank on hold
Despite prevailing benign inflationary trends, the Swiss National Bank (SNB) has opted to maintain its policy rate at 0%, reflecting a cautious yet stable monetary stance. As highlighted in the…
Policy rate
0.25%
as of 2026-03-20
Next meeting
Sep 18
T-88d
Bias
DOVISH
The Swiss National Bank conducts monetary policy for Switzerland with a mandate of price stability while taking due account of economic developments. Policy assessments are published quarterly.
Policy decisions are announced on the dates above. Source: official central bank schedules.
Policy rate
0.25%
As of 2026-03-20
CHF 2026 consensus
0.78
median of 19 banks
CHF net longs (CFTC)
-10,785
latest as of
Next macro event
Current Account (Q1)
5 most-recent items prefer LLM synthesis where available
Despite prevailing benign inflationary trends, the Swiss National Bank (SNB) has opted to maintain its policy rate at 0%, reflecting a cautious yet stable monetary stance. As highlighted in the…
Lead — The Swiss National Bank (SNB) is expected to maintain its policy rate at 0%, largely due to subdued inflationary pressures, as highlighted in the recent analysis. Per the full note [source],…
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100 statements scored, Apr 2026 → May 2026
Most hawkish: May 11, 2026 (Ida Wolden Bache: Policy rate raised to 4.25 percent, score +75)
Most dovish: Apr 30, 2026 (Christine Lagarde, Luis de Guindos: ECB press conference -…, score -35)
Non-commercial net longs over the past 8 weeks. Latest report: for SNB
Latest net
-10,785
CHF non-commercial contracts
WoW change
-836
8-week trend
oldest → newest
Reports referencing SNB across covered research desks
FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.