Interest rate decision · Switzerland
Switzerland SNB Interest Rate Decision
The Switzerland SNB Interest Rate Decision is the Swiss National Bank's announcement of its main policy rate, the SNB policy rate. It is the price of money in Switzerland: banks' borrowing costs, mortgage and loan rates and the return on cash all move with it.
- Importancia
- High
- Publicado
- Quarterly
- Próxima publicación
- Divisa
- CHF · Swiss franc
- Banco central
- The Swiss National Bank
Últimas cifras
El último dato se publicó el 2026-09-24 y fue 0%. Está en línea con el consenso de 0%. No cambia respecto a 0% la vez anterior.
Un resultado en línea con el consenso suele provocar poca reacción: ya estaba descontado.
En las últimas 7 publicaciones osciló entre 0% y 0.2%, con una media de 0.0%.
| Publicado | Para | Real | Consenso | Anterior |
|---|---|---|---|---|
| 24 Sep 2026 | – | 0% | 0% | 0% |
| 18 Jun 2026 | – | 0% | 0% | 0% |
| 19 Mar 2026 | – | 0% | 0% | 0% |
| 11 Dec 2025 | – | 0% | 0% | 0% |
| 25 Sep 2025 | – | 0% | 0.0% | 0% |
| 19 Jun 2025 | – | 0% | 0% | 0.25% |
| 20 Mar 2025 | – | 0.25% | 0.25% | 0.5% |
Por qué importa
No release moves markets more directly. The rate decides what holding the Swiss franc pays, so the currency, government bond yields, bank shares and the whole stock market react within seconds. Markets usually price the decision in advance, so the surprise, and the tone of the statement and press conference, matter as much as the number: a hold with a hawkish message can lift the currency more than an expected hike.
Cómo se calcula
There is nothing to calculate: the rate is set by a vote of the central bank's policy committee at scheduled meetings. The committee weighs inflation against its target, the labour market, growth and financial conditions. Most decisions move in steps of 0.25 percentage point; 0.50 or more signals urgency.
Taylor rule (a rough guide many economists use):
rate ≈ neutral rate + inflation + 0.5 × (inflation − target) + 0.5 × output gapQué significan los cambios
- Compare the decision with the consensus: a surprise move is rare and causes the largest reactions.
- Read the statement for changes in wording; "further tightening may be needed" versus "policy is appropriate" is what traders act on.
- Look at the vote split: dissents in one direction often foreshadow the next move.
- A hike or hawkish hold usually lifts the Swiss franc and bond yields; a cut or dovish tone does the opposite. Stocks usually prefer lower rates unless the cut signals a weakening economy.
Mayor de lo esperado: A higher rate than expected (or a hawkish surprise) usually lifts the Swiss franc and bond yields and weighs on stocks.
Menor de lo esperado: A lower rate than expected usually weakens the Swiss franc, lowers bond yields and supports stocks.
Una breve historia
Central banks have set lending rates since the Bank of England raised its Bank Rate in the 18th and 19th centuries to defend its gold reserves. Since New Zealand adopted formal inflation targeting in 1990, most central banks set rates to keep inflation near a target, usually 2%.
Preguntas
What is the Switzerland SNB Interest Rate Decision?
The Switzerland SNB Interest Rate Decision is the Swiss National Bank's announcement of its main policy rate, the SNB policy rate. It is the price of money in Switzerland: banks' borrowing costs, mortgage and loan rates and the return on cash all move with it.
What was the latest Switzerland SNB Interest Rate Decision?
0%, published on 24 September 2026 (consensus 0%, previous 0%).
When is the next Switzerland SNB Interest Rate Decision?
On Thursday 10 December 2026 at 08:30 UTC.
When is the Switzerland SNB Interest Rate Decision announced?
On the dates of the Swiss National Bank's scheduled policy meetings, published a year in advance; the calendar above shows the next one.
Why do markets move before the decision?
Interest-rate futures and swaps price the expected decision days ahead; on the day, only the difference from those expectations moves prices.
Solo contenido educativo, no asesoramiento de inversión. Las cifras son los resultados publicados según los registra nuestro calendario; las reacciones del mercado descritas son típicas, no garantizadas.