Swiss National Bank (SNB)

SNB raises key rate by 25 bps in June, eyes additional tightening


USD/CHF and EUR/CHF could bounce as status quo by the SNB would take the gloss off the Franc – SocGen

On the data front, inflation in Switzerland surprised to the downside and raised doubts about whether the SNB tightening cycle is over. No further rate increase in September and ‘higher for longer’ policy outlooks at the Fed and ECB, even without further hikes, could precipitate a bounce in USD/CHF and EUR/CHF provided the sky does not fall on equities and credit.

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SNB leaves policy rate unchanged at -0.75% as expected

The Swiss National Bank (SNB) announced on Thursday that it left the interest rate on sight deposits unchanged at -0.75% as expected. In its policy statement, the SNB reiterated it remains willing to intervene in the foreign exchange market as necessary to counter the upward pressure on the Swiss franc.


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What is the SNB?

The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

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Who is SNB chair?

Thomas J. Jordan was born in Bienne, Switzerland in 1963. Thomas J. Jordan is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basle and the Steering Committee of the Financial Stability Board (FSB). He is the Governor of the International Monetary Fund (IMF) for Switzerland, and also Chairman of the G10 Central Bank Counterfeit Deterrence Group (CBCDG).

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The World Interest Rates Table

The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.