Swiss National Bank meeting —

At its 24 September 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%. Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold.

Confirms the policy rate is held at zero, keeping policy highly accommodative with no tightening signal.

The discount for sight deposits above this threshold is unchanged at 0.25 percentage points. The SNB is also willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions.

Signals continued FX intervention readiness to prevent unwanted CHF strength, a dovish backstop for monetary conditions.

Meeting documents

Background reading

Previous meeting · Open the full decision workspace

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