SNB keeps policy rate unchanged at 0% in June: What it means for Swiss Franc
The Swiss National Bank (SNB), as widely expected, announced to keep the policy rate unchanged at 0% at the conclusion of the second quarter meeting this Thursday.
In the accompanying policy statement, the SNB revised its inflation forecast to 0.6% for 2027 and to 0.7% for 2028, up from 0.5% and 0.6%, respectively. The central bank sees 2026 GDP growth at around 1%, the same as forecasted previously.
Meanwhile, the SNB reiterated that it will continue to monitor the situation and adjust its monetary policy, if necessary, in order to ensure price stability. In its baseline scenario, the central bank anticipates that inflation worldwide will remain elevated over the coming quarters due to higher raw material prices and that global economic growth is likely to be more moderate in the short term than in the previous quarters.
The Swiss Franc (CHF) edges lower following the decision, lifting the USD/CHF pair back above the 0.8000 psychological mark. However, a broadly weaker US Dollar (USD) keeps the currency pair below its highest level since early April, touched on Wednesday.
The market focus now shifts to the post-meeting press conference, where comments from SNB Chairman Martin Schlegel and Governing Board Members might provide a fresh impetus to the CHF.
USD/CHF daily chart
From a technical perspective, the USD/CHF pair maintains a bullish near-term bias above the 200-period Exponential Moving Average (EMA). Moreover, the Relative Strength Index (RSI) is near 62, and a positive Moving Average Convergence Divergence (MACD) reading suggests that the underlying demand remains in place, hinting that upside momentum is still constructive.
Meanwhile, initial support is defined by the 200-period EMA at 0.7957, and a daily close below this area would weaken the current bullish structure and expose deeper corrective losses. As long as spot prices remain above this moving average, dip-buying interest is likely to persist, with bulls retaining control of the short-term outlook.
(The technical analysis of this story was written with the help of an AI tool.)
Swiss Franc Price Today
The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the strongest against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | 0.00% | 0.02% | 0.05% | -0.24% | -0.18% | 0.07% | |
| EUR | 0.07% | 0.08% | 0.07% | 0.11% | -0.18% | -0.16% | 0.13% | |
| GBP | -0.01% | -0.08% | -0.02% | 0.02% | -0.23% | -0.21% | 0.04% | |
| JPY | -0.02% | -0.07% | 0.02% | 0.07% | -0.25% | -0.23% | 0.04% | |
| CAD | -0.05% | -0.11% | -0.02% | -0.07% | -0.31% | -0.28% | -0.00% | |
| AUD | 0.24% | 0.18% | 0.23% | 0.25% | 0.31% | 0.03% | 0.30% | |
| NZD | 0.18% | 0.16% | 0.21% | 0.23% | 0.28% | -0.03% | 0.29% | |
| CHF | -0.07% | -0.13% | -0.04% | -0.04% | 0.00% | -0.30% | -0.29% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).
Author
Haresh Menghani
FXStreet
Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.
