SNB Holds Rate at 0% Amid Global Uncertainties and Stable Inflation Outlook

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Swiss National Bank (SNB) has maintained its policy interest rate at 0% and stands ready to intervene in the foreign exchange market to prevent an excessive appreciation of the Swiss franc. While recent energy price spikes pushed inflation up to 0.6% in May, the medium-term outlook remains stable, with average annual inflation projected at 0.6% for 2026 and 2027, and 0.7% for 2028. Supported by this monetary policy, the resilient Swiss economy is forecasted to grow by approximately 1% in 2026 and 1.5% in 2027, though this baseline faces high uncertainty from global risks such as Middle East geopolitical tensions, volatile commodity prices, and unpredictable US trade policy.



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