Switzerland CHF

Switzerland SNB Interest Rate Decision

Info

History

Chart

Impact:

High

Source: Swiss National Bank

Latest Release:

Date:

Actual:

0.25%

Forecast: 0.25%

Previous/Revision:

0.5%

Period:

Next Release:

Date:

Forecast: 0%

Period:

What Does It Measure?

The Switzerland Swiss National Bank (SNB) Interest Rate Decision measures the central bank's benchmark interest rate, which is crucial for guiding monetary policy in Switzerland. It primarily focuses on controlling inflation, influencing economic growth, and stabilizing the Swiss Franc against foreign currencies.

Frequency

The interest rate decision is typically announced quarterly, with release dates often coinciding with the SNB's monetary policy assessments in March, June, September, and December.

Why Do Traders Care?

Traders closely monitor the SNB Interest Rate Decision as it directly impacts the value of the Swiss Franc and the broader financial markets, particularly in currencies, bonds, and equities. Changes in interest rates can signal shifts in economic policy, influencing expectations for inflation, investment returns, and overall economic health.

What Is It Derived From?

The interest rate decision is derived from extensive macroeconomic analysis, which considers various indicators such as inflation rates, employment data, and economic growth forecasts. The SNB's Governing Board makes this decision based on consensus evaluations from both internal economic models and external economic conditions.

Description

The SNB Interest Rate Decision involves evaluating economic indicators, with policymakers assessing the current inflationary environment and overall economic stability before arriving at a consensus rate. While preliminary statements may provide forecasts, the final decision captures the most accurate outlook for monetary policy going forward.

Additional Notes

This indicator serves as a leading economic measure as it can significantly influence market expectations and economic trends in Switzerland and abroad. It serves as a critical benchmark for assessing the health of the Swiss economy compared to other nations, particularly within the context of European monetary policy.

Bullish or Bearish for Currency and Stocks

If the SNB raises rates above market expectations: Higher than expected: Bullish for CHF, Bearish for Stocks. If the SNB cuts rates more than anticipated: Lower than expected: Bearish for CHF, Bullish for Stocks. Hawkish tone: Signaling higher interest rates due to inflation concerns is usually good for the CHF but bad for Stocks due to higher borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Mar 20, 2025	0.25%	0.25%	0.5%
Dec 12, 2024	0.5%	0.75%	1%	-0.25%
Sep 26, 2024	1%	1%	1.25%
Jun 20, 2024	1.25%	1.25%	1.5%
Mar 21, 2024	1.5%	1.75%	1.75%	-0.25%
Dec 14, 2023	1.75%	1.75%	1.75%
Sep 21, 2023	1.75%	2%	1.75%	-0.25%
Jun 22, 2023	1.75%	1.75%	1.5%
Mar 23, 2023	1.5%	1.5%	1%
Dec 15, 2022	1%	1%	0.5%
Sep 22, 2022	0.5%	0.5%	-0.25%
Jun 16, 2022	-0.25%	-0.75%	-0.75%	0.5%
Mar 24, 2022	-0.75%	-0.75%	-0.75%
Dec 16, 2021	-0.75%	-0.75%	-0.75%
Sep 23, 2021	-0.75%	-0.75%	-0.75%
Jun 17, 2021	-0.75%	-0.75%	-0.75%
Mar 25, 2021	-0.75%	-0.75%	-0.75%
Dec 17, 2020	-0.75%	-0.75%	-0.75%
Sep 24, 2020	-0.75%	-0.75%	-0.75%
Jun 18, 2020	-0.75%	-0.75%	-0.75%
Mar 19, 2020	-0.75%	-0.75%	-0.75%
Dec 12, 2019	-0.75%	-0.75%	-0.75%
Sep 19, 2019	-0.75%	-0.75%	-0.75%
Jun 13, 2019	-0.75%	-0.75%	-0.75%
Mar 21, 2019	-0.75%	-0.75%	-0.75%
Dec 13, 2018	-0.75%	-0.75%	-0.75%
Sep 20, 2018	-0.75%	-0.75%	-0.75%
Jun 21, 2018	-0.75%	-0.75%	-0.75%
Mar 15, 2018	-0.75%	-0.75%	-0.75%
Dec 14, 2017	-0.75%	-0.75%	-0.75%
Sep 14, 2017	-0.75%	-0.75%	-0.75%
Jun 15, 2017	-0.75%	-0.75%	-0.75%
Mar 16, 2017	-0.75%	-0.75%	-0.75%
Dec 15, 2016	-0.75%	-0.75%	-0.75%
Sep 15, 2016	-0.75%	-0.75%	-0.75%
Jun 16, 2016	-0.75%	-0.75%	-0.75%
Mar 17, 2016	-0.75%	-0.75%	-0.75%
Dec 10, 2015	-0.75%	-0.75%	-0.75%
Sep 17, 2015	-0.75%	-0.75%	-0.75%
Jun 18, 2015	-0.75%	-0.75%	-0.75%