Swiss National Bank meeting —

At its 25 September 2025 meeting, the Swiss National Bank held its policy rate at 0.00%.

Decision

hold — 0.00% to 0.00%

Key passages

The Swiss National Bank is leaving the SNB policy rate unchanged at 0%.

No change; market already priced in, leaves accommodative stance intact.

The SNB remains willing to be active in the foreign exchange market as necessary.

Signals continued FX intervention to prevent CHF appreciation, a key easing lever.

Meeting documents

Background reading

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