Next release
Released quarterlySep 24, 2026 07:30 UTC
in 95 days
Latest result
The most recent SNB Interest Rate Decision (Jun 18, 2026) printed 0.00% versus 0.0% expected (previous 0.00%) — in line with forecast.
What it measures
This is the Swiss National Bank's decision on interest rates, made once a quarter. Switzerland aims for very low inflation, between zero and two percent, lower than most, so its rate path can look different from its neighbours. The Bank is also unusually willing to act on the franc directly, which shapes how its decisions land.
Higher rates reward holding the franc, so a rise tends to lift it and a cut weakens it, but the Swiss case has a twist: the Bank treats the franc's exchange rate as a policy tool and will buy or sell it in the market to steer it. Because the franc is a safe haven, it strengthens when investors are nervous, which can push it stronger than the Bank wants and pull it toward cutting or even negative rates to cool it down. The Bank is also willing to move before others and to surprise, having cut and hiked ahead of the European Central Bank in the past. So read a Swiss decision alongside what the Bank says about the franc being too strong, not just the rate.
What a higher or lower SNB Interest Rate Decision means for the CHF
A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the CHF.
Higher than forecast
An actual above the 0.0% forecast is typically bullish for the CHF.
Lower than forecast
An actual below the 0.0% forecast is typically bearish for the CHF.
Release history
Every release of SNB Interest Rate Decision: actual vs forecast and the beat/miss outcome. Click a date for the full read of that release.
| Release | Actual | Forecast | Previous | Outcome |
|---|---|---|---|---|
| Jun 18, 2026 | 0.00% | 0.0% | 0.00% | inline |
| Mar 19, 2026 | 0% | 0% | 0% | inline |
| Sep 25, 2025 | 0% | 0.0% | 0% | inline |
| Jun 19, 2025 | 0% | 0% | 0.25% | inline |
| Mar 20, 2025 | 0.25% | 0.25% | 0.5% | inline |
| Dec 12, 2024 | 0.5% | 0.75% | 1% | below |
| Sep 26, 2024 | 1% | 1.0% | 1.25% | inline |
| Jun 20, 2024 | 1.25% | 1.25% | 1.5% | inline |
| Mar 21, 2024 | 1.5% | 1.75% | 1.75% | below |
| Dec 14, 2023 | 1.75% | 1.75% | 1.75% | inline |
| Sep 21, 2023 | 1.75% | 2.0% | 1.75% | below |
| Jun 22, 2023 | 1.75% | 1.75% | 1.5% | inline |
| Mar 23, 2023 | 1.5% | 1.5% | 1% | inline |
| Dec 15, 2022 | 1% | 1% | 0.5% | inline |
| Sep 22, 2022 | 0.5% | 0.5% | -0.25% | inline |
| Jun 16, 2022 | -0.25% | -0.75% | -0.75% | above |
| Mar 24, 2022 | -0.75% | -0.75% | -0.75% | inline |
| Dec 16, 2021 | -0.75% | -0.75% | -0.75% | inline |
| Sep 23, 2021 | -0.75% | -0.75% | -0.75% | inline |
| Jun 17, 2021 | -0.75% | -0.75% | -0.75% | inline |
| Mar 25, 2021 | -0.75% | -0.75% | -0.75% | inline |
| Dec 17, 2020 | -0.75% | -0.75% | -0.75% | inline |
| Sep 24, 2020 | -0.75% | -0.75% | -0.75% | inline |
| Jun 18, 2020 | -0.75% | -0.75% | -0.75% | inline |
| Mar 19, 2020 | -0.75% | -0.75% | -0.75% | inline |
| Dec 12, 2019 | -0.75% | -0.75% | -0.75% | inline |
| Sep 19, 2019 | -0.75% | -0.75% | -0.75% | inline |
| Jun 13, 2019 | -0.75% | -0.75% | -0.75% | inline |
| Mar 21, 2019 | -0.75% | -0.75% | -0.75% | inline |
| Dec 13, 2018 | -0.75% | -0.75% | -0.75% | inline |
| Sep 20, 2018 | -0.75% | -0.75% | -0.75% | inline |
| Jun 21, 2018 | -0.75% | -0.75% | -0.75% | inline |
| Mar 15, 2018 | -0.75% | -0.75% | -0.75% | inline |
| Dec 14, 2017 | -0.75% | -0.75% | -0.75% | inline |
| Sep 14, 2017 | -0.75% | -0.75% | -0.75% | inline |
| Jun 15, 2017 | -0.75% | -0.75% | -0.75% | inline |
Frequently asked questions
- What is SNB Interest Rate Decision?
- This is the Swiss National Bank's decision on interest rates, made once a quarter. Switzerland aims for very low inflation, between zero and two percent, lower than most, so its rate path can look different from its neighbours. The Bank is also unusually willing to act on the franc directly, which shapes how its decisions land.
- What was the latest SNB Interest Rate Decision reading?
- The most recent release (Jun 18, 2026) came in at 0.00%, versus a forecast of 0.0% and a previous 0.00% — in line with expectations.
- When is the next SNB Interest Rate Decision?
- The next SNB Interest Rate Decision is scheduled for Sep 24, 2026. It is released quarterly.
- What happens to the CHF if SNB Interest Rate Decision is higher than expected?
- An actual reading above the consensus forecast is typically bullish for the CHF, while a reading below forecast is bearish for the CHF. A stronger-than-expected reading points to a more resilient economy or higher-for-longer rates, which tends to draw capital into the CHF.
- How does SNB Interest Rate Decision affect the CHF?
- Higher rates reward holding the franc, so a rise tends to lift it and a cut weakens it, but the Swiss case has a twist: the Bank treats the franc's exchange rate as a policy tool and will buy or sell it in the market to steer it. Because the franc is a safe haven, it strengthens when investors are nervous, which can push it stronger than the Bank wants and pull it toward cutting or even negative rates to cool it down. The Bank is also willing to move before others and to surprise, having cut and hiked ahead of the European Central Bank in the past. So read a Swiss decision alongside what the Bank says about the franc being too strong, not just the rate.