SZ SNB Policy Rate
It's an important driver of commodity demand - lower interest rates decrease carrying costs. Reduced costs to store goods will spur companies to make investments in raw materials, leading to higher inventory levels;
This rate is the SNB's main operating target. The decision is usually priced into the market, so it tends to be overshadowed by the Monetary Policy Assessment, which is focused on the future. Source first released in Jun 2019;
- SZ SNB Policy Rate Graph
- History
Expected Impact / Date | Actual | Forecast | Previous |
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Sep 26, 2024 | 1.00% | 1.00% | 1.25% |
Jun 20, 2024 | 1.25% | 1.50% | 1.50% |
Mar 21, 2024 | 1.50% | 1.75% | 1.75% |
Dec 14, 2023 | 1.75% | 1.75% | 1.75% |
Sep 21, 2023 | 1.75% | 2.00% | 1.75% |
Jun 22, 2023 | 1.75% | 1.75% | 1.50% |
Mar 23, 2023 | 1.50% | 1.50% | 1.00% |
Dec 15, 2022 | 1.00% | 1.00% | 0.50% |
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- SZ SNB Policy Rate News
The Swiss National Bank on Thursday took a third step to loosen monetary policy this year, bringing its key interest rate down by 25 basis points to 1.0%. The trim, which had been anticipated by 30 of 32 analysts surveyed in a Reuters poll, marked the SNB’s third interest rate reduction of 2024. It was the first major Western central bank to reduce interest rates back in March. The third trim comes amid similar signals from the European Central Bank and the U.S. Federal Reserve, which took the long-awaited plunge to slim down its ...
The Swiss National Bank is lowering the SNB policy rate by 0.25 percentage points to 1.0%. The change applies from tomorrow, 27 September 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 0.5% above this threshold. The SNB also remains willing to be active in the foreign exchange market as necessary. Inflationary pressure in Switzerland has again decreased significantly compared to the previous quarter. Among other things, this decrease reflects the appreciation ...
This should be a lighter week but with several key developments still ahead. Several central banks are poised to make decisions including Banxico, the SNB, the RBA, and Riksbank or offer guidance including officials from the PBOC, Bank of Canada and Federal Reserve. Key data will include the start of tracking Eurozone CPI, another US core PCE update, and Canadian GDP. There is no special topic considered in this week’s edition due to other demands including travel. Canada's Economy - How far off is the BOC? Canada’s economy will be a ...
Should the central bank see fit to ease at what would be a third successive Monetary Policy Assessment (MPA), there would seem to be few hurdles in the path of another cut in the SNB’s policy rate this week. Inflation remains low, the Swiss franc strong and domestic economic activity, at best, sluggish. In addition, both the ECB and the Federal Reserve have reduced their key rates since the June MPA. The bank has a habit of surprising investors but there is a strong market consensus favouring another 25 basis point reduction in the ...
The Swiss National Bank (SNB) will be the final major central bank to announce its policy decision in September. Like the Fed, there is a substantial degree of uncertainty around the size of the cut. Investors have priced in around a 60% probability of a 25-basis-point rate reduction, with the remaining odds being for a 50-bps move. Expectations for a larger cut have gained ground since the beginning of August when the Swiss franc spiked higher against the US dollar and euro. SNB chief Thomas Jordan, who will chair his last meeting ...
The Swiss National Bank on Thursday trimmed its key interest rate by 25 basis points to 1.25%, continuing cuts at a time when sentiment over monetary policy easing remains mixed among major economies. Two thirds of economists polled by Reuters had anticipated the SNB would decide in favor of a 25-basis-point-cut to 1.25%. The Swiss franc weakened in the wake of the announcement, with the Euro gaining 0.3% and the U.S. dollar up 0.5% against the Swiss currency at 8:55 a.m. London time. Following the Thursday decision, the Swiss ...
The Swiss National Bank is lowering the SNB policy rate by 0.25 percentage points to 1.25%. The change applies from tomorrow, 21 June 2024. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold, and at 0.75% above this threshold. The SNB is also willing to be active in the foreign exchange market as necessary. The underlying inflationary pressure has decreased again compared to the previous quarter. With today’s lowering of the SNB policy rate, the SNB is able to maintain appropriate monetary conditions. The SNB will continue to monitor the development of inflation closely, and will adjust its monetary policy if necessary to ensure inflation remains within the range consistent with price stability over the medium term. Inflation has risen slightly since the last monetary policy assessment, and stood at 1.4% in May. Higher inflation in rents, tourism services and oil products has contributed in particular to this increase. Overall, inflation in Switzerland is currently being driven above all by higher prices for domestic services. Taking into account today’s policy rate cut, the new conditional inflation forecast is similar to that of March. Over the longe post: SNB: WE ARE ALSO WILLING TO BE ACTIVE IN THE FOREIGN EXCHANGE MARKET AS NECESSARY. post: SNB: A RENEWED INCREASE IN GEOPOLITICAL TENSIONS COULD RESULT IN WEAKER DEVELOPMENT OF GLOBAL ECONOMIC ACTIVITY. post: SNB: THE FORECAST FOR SWITZERLAND, AS FOR THE GLOBAL ECONOMY, IS SUBJECT TO SIGNIFICANT UNCERTAINTY. DEVELOPMENTS ABROAD REPRESENT THE MAIN RISK. post: SNB: INFLATION IN SWITZERLAND IS CURRENTLY BEING DRIVEN ABOVE ALL BY HIGHER PRICES FOR DOMESTIC SERVICES.
The Swiss National Bank on Thursday surprised the market with a decision to lower its main policy rate by 0.25 percentage points to 1.5%, saying national inflation is likely to stay below 2% for the foreseeable future. Economists polled by Reuters had expected the Swiss central bank to hold rates at 1.75%. “For some months now, inflation has been back below 2% and thus in the range the SNB equates with price stability. According to the new forecast, inflation is also likely to remain in this range over the next few years,” the bank ...
Released on Sep 26, 2024 |
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Released on Jun 20, 2024 |
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Released on Mar 21, 2024 |
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