Stance over time
Each dot is one speech or statement by the SNB, scored from dovish to hawkish; the line is the trailing 30-day average. Hover a dot for the date and speaker.
Latest decision
The SNB will keep monitoring the situation and adjust monetary policy if necessary to ensure appropriate monetary conditions, and is willing to intervene in the foreign exchange market as necessary.
- Rate
- SNB policy rate
SNB forecasts: real GDP growth
| Economy | 2026 | Revision | 2027 | Revision |
|---|---|---|---|---|
| China | 4.6% | - | - | - |
| Euro area | 0.8% | - | 1.1% | - |
| Switzerland | 1.8% | - | 1.5% | - |
| United States | 2.1% | - | - | - |
| World | 3.2% | - | 3.3% | - |
SNB forecasts: inflation
| Economy | 2026 | Revision | 2027 | Revision |
|---|---|---|---|---|
| Switzerland | 0.7% | - | 0.8% | - |
Revision is the change from the bank’s previous edition, in percentage points.
Recent speeches and statements
- 24 Sep 2026 · Rate decisionNeutral 0.0HoldMartin Schlegel
The SNB will keep monitoring the situation and adjust monetary policy if necessary to ensure appropriate monetary conditions, and is willing to intervene in the foreign exchange market as necessary.
inflationenergyfxswiss francgrowthIntroductory remarks by the Governing Board, Swiss National Bank news conference → - 24 Sep 2026 · Rate decisionNeutral 0.0HoldSwiss National Bank
The SNB leaves the policy rate at 0% and says monetary policy is appropriate to keep inflation within the price stability range. It remains willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions.
inflationenergyfxgrowthmiddle east2026-09-24 - Monetary policy assessment of 24 September 2026 → - 24 Sep 2026 · Rate decisionNeutral 0.0HoldMartin Schlegel
The SNB left its policy rate at 0%, will keep monitoring the situation and adjust monetary policy if necessary to ensure appropriate monetary conditions, and is willing to intervene in the foreign exchange market as necessary.
inflationenergyfxswiss francgrowth2026-09-24 - Martin Schlegel / Antoine Martin / Petra Tschudin: Introductory remarks, news conference → - 24 Sep 2026 · Rate decisionNeutral 0.0HoldSwiss National Bank
Monetary policy is appropriate to keep inflation within the range consistent with price stability. The SNB is willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions.
inflationenergyfxswiss francgrowth2026-09-30 - Quarterly Bulletin 3/2026 → - 26 Aug 2026 · SpeechAntoine Martin
The SNB sets its policy rate 'clean' and does not lean against the wind. Financial stability risks are addressed with macroprudential tools. The sectoral CCyB should not be raised now, but its 2.5% legal cap leaves no room to manoeuvre, so a higher cap and an additional releasable buffer are options.
financial stabilitymacroprudential policycountercyclical capital buffertoo big to failreal estateMonetary policy and financial stability at the SNB - the role of macroprudential tools → - 26 Aug 2026 · SpeechAntoine Martin
The sectoral countercyclical capital buffer, at its legal maximum of 2.5%, should not be increased at the moment, but the macroprudential framework should gain room for manoeuvre, e.g. a releasable buffer or a higher cap.
financial stabilitymacroprudentialreal estatebanking2026-08-26 - Antoine Martin: Monetary policy and financial stability at the SNB: the role of macroprudential tools → - 12 Aug 2026 · StatementSwiss National Bank
The SNB urges as many banks as possible to prepare to participate in the Extended Liquidity Facility, available from the beginning of 2027, and to pre-position collateral for central bank liquidity support.
financial stabilitybanking regulationtoo big to failliquidity2026-08-12 - Swiss National Bank welcomes measures to strengthen ‘too big to fail’ regulations →
Other central banks
How this page is made
We collect what central banks and multilateral institutions publish: rate decisions, meeting minutes, officials’ speeches and staff projections. AI reads each document and records who is speaking, whether they vote on policy, the forward guidance, any decision taken and any forecasts.
Stance is scored from strongly dovish (−2) to strongly hawkish (+2): above +0.2 reads as hawkish, below −0.2 as dovish, in between as neutral. It is an interpretation of the wording, not an official classification. Figures are as stated in the source document; always check the original, linked from every entry.