Swiss National Bank meeting —

At its 19 March 2026 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%.

Rate decision: no change, as expected.

Given the conflict in the Middle East, the SNB's willingness to intervene in the foreign exchange market has increased.

Signals potential FX intervention to cap franc strength, a key policy tool given rates at zero.

Meeting documents

Background reading

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