Swiss National Bank (SNB) news

The Swiss National Bank (SNB) is Switzerland's central bank. Its primary mandate is to maintain price stability, taking into account economic developments. The SNB manages monetary policy through interest rate adjustments and foreign exchange interventions, aiming to ensure stability and support the Swiss economy. It also manages Switzerland's gold reserves.

SNB opts for smaller hike but signals it isn't done yet

The Swiss National Bank slowed the pace of its tightening cycle on Thursday, in line with market expectations but signaled there is more to come. While most central banks would dream of 2.2% inflation right now, the SNB has made clear that there will be no complacency. Today's hike likely doesn't mark the end of its cycle, with another 25 basis points expected in September.

22-06-2023 07:03 GMT by Craig Erlam

Swiss franc drifting ahead of SNB rate decision

Swiss National Bank expected to raise interest rates on Thursday Fed Chair Powell testifies before Congress Wednesday and Thursday The Swiss franc is showing little movement on Wednesday, trading at 0.8984 in the North American session. Will Swiss National Bank deliver a hawkish surprise? The Swiss National Bank will announce its rate decision on Thursday, and the meeting is live, as the markets have priced a 0.50% hike at 60% and a 0.25% at 40%. The current benchmark rate is 1.50%.

21-06-2023 09:15 GMT by Kenneth Fisher