Swiss National Bank

Swiss National Bank holds interest rate at zero, cuts inflation forecast

The outcome shows the central bank setting a higher bar for moving negative than for a standard rate cut

While the probable interventions of the SNB are weighing against still elevated safe-haven demand for the franc, the economists concluded that in sum the currency may become less attractive.

Swiss National Bank likely intervening to weaken franc: UBS

[ZURICH] The Swiss National Bank (SNB) is probably stepping into the market to weaken the franc, according to economists at UBS Group.

“We can have negative inflation prints in the short term, but in the medium term we need to achieve price stability,” SNB chairman Martin Schlegel said.

Swiss National Bank keeps interest rate at zero, warns of tariff impact

[ZURICH] The Swiss National Bank (SNB) held its benchmark interest rate at zero on Thursday (Sep 25), the lowest among major central banks, as it warned that US President Donald Trump’s tariffs had di...

SNB president Martin Schlegel and colleagues had signalled as recently as March that they were probably finished with easing, but the currency’s role as a haven from turmoil forced their hand.

Swiss National Bank cuts interest rate to zero in effort to stop franc inflows

The quarter-point reduction is the sixth consecutive move by officials

Switzerland has long had an affinity for physical money and still has a 1,000 Swiss franc (S$1,522) note – one of the world’s highest-value notes.

Cash still king for Swiss businesses, central bank survey shows

CASH is still the most accepted payment method for Swiss businesses, the Swiss National Bank (SNB) said on Wednesday (Oct 9), despite plans by some companies to reduce their acceptance of notes and co...

The Swiss National Bank cut its policy rate to 1 per cent, the lowest level since early 2023.

Swiss central bank lowers rates and flags further cuts as inflation eases

THE Swiss National Bank reduced interest rates by 25 basis points on Thursday (Sep 26), echoing steps to lower borrowing costs by the European Central Bank and US Federal Reserve, and left the door wi...

The Swiss watch industry includes some 700 companies employing about 65,000 people.

Swiss watchmakers call on central bank to act on franc as exports slump

SWISS watchmakers urged the central bank and the government to support exporters by curbing the strength of the country’s currency as overseas sales slump.

The profit of 56.8 billion Swiss francs (S$86.2 billion) was boosted by valuation gains, as well as dividend and interest payouts from 740 billion Swiss francs invested in bonds and stocks.

Swiss central bank posts record half year profit

The central bank also made a valuation gain of 12.2 billion francs on the 1,040 tonnes of gold it holds

SNB new chairman Martin Schlegel stressed his commitment to the central bank’s mandate of ensuring price stability, defined as an inflation rate of 0 to 2 per cent.

New Swiss National Bank chairman Schlegel stresses price stability goal

THE Swiss National Bank’s next chairman will be Martin Schlegel, the government said on Wednesday (Jun 26), replacing long-serving boss Thomas Jordan when he steps down at the end of September.

The Swiss central bank notes that since January, systemically important banks have had to comply with new liquidity requirements. These address some, but not all, of the weaknesses that materialised during the Credit Suisse crisis.

Swiss financial regulations not yet tough enough post-Credit Suisse, central bank says

Swiss National Bank shares the Federal Council’s view on the need for action on capital and liquidity requirements, among others