The Swiss National Bank kept its policy rate unchanged at 0% in March 2026, maintaining remuneration on sight deposits up to a set threshold, with a 0.25 percentage point discount applied above it. Amid the Middle East conflict, the SNB signaled a greater willingness to intervene in currency markets to prevent excessive Swiss franc appreciation and protect price stability. Inflation has edged up slightly, reaching 0.1% in February, with higher energy prices expected to push it further in the near term, though medium term pressures remain stable. The SNB forecasts average inflation at 0.5% in 2026 and 2027, and 0.6% in 2028. While global growth was solid late last year, rising energy costs and geopolitical tensions are increasing uncertainty and may slow activity. Switzerland’s economy showed modest growth, with GDP rebounding in the fourth quarter, and is expected to expand around 1% in 2026, though risks remain tied to global conditions. source: Swiss National Bank

The benchmark interest rate in Switzerland was last recorded at 0 percent. Interest Rate in Switzerland averaged 0.60 percent from 2000 until 2026, reaching an all time high of 3.50 percent in June of 2000 and a record low of -0.75 percent in January of 2015. This page provides - Switzerland Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Switzerland Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

The benchmark interest rate in Switzerland was last recorded at 0 percent. Interest Rate in Switzerland is expected to be 0.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Switzerland Interest Rate is projected to trend around 1.00 percent in 2027, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-09-25 07:30 AM SNB Interest Rate Decision 0% 0% 0.0% 0.0%
2025-12-11 08:30 AM SNB Interest Rate Decision 0% 0% 0% 0%
2026-03-19 08:30 AM SNB Interest Rate Decision 0% 0% 0% 0%
2026-04-16 07:30 AM SNB Monetary Policy Meeting Minutes
2026-06-18 07:30 AM SNB Interest Rate Decision
2026-06-24 01:00 PM SNB Quarterly Bulletin


Related Last Previous Unit Reference
Banks Balance Sheet 2405404.00 2344133.00 CHF Million Jan 2026
Central Bank Balance Sheet 886529.40 893857.50 CHF Million Jan 2026
Deposit Interest Rate 0.03 0.03 percent Jan 2026
Foreign Exchange Reserves 710029.00 712040.00 CHF Million Feb 2026
SNB Interest Rate 0.00 0.00 percent Mar 2026
Loans to Private Sector 1798194.00 1794007.00 CHF Million Jan 2026
Money Supply M0 508866.00 508495.00 CHF Million Feb 2026
Money Supply M1 757605.00 753850.00 CHF Million Feb 2026
Money Supply M2 1216014.00 1215239.00 CHF Million Feb 2026
Money Supply M3 1216014.00 1215239.00 CHF Million Feb 2026


Switzerland Interest Rate
In Switzerland, interest rate decisions are taken by the Swiss National Bank. The official interest rate is the SNB policy rate. The SNB seeks to keep the secured short-term Swiss franc money market rates close to the SNB policy rate. SARON is the most representative of these rates today. As of 13 June 2019, the SNB policy rate replaced the target range for the three-month Swiss franc Libor (London Interbank Offered Rate) previously used in the SNB's monetary policy strategy. The reason for this adjustment was that the Libor was becoming less relevant as the most important reference rate owing to the absence of the underlying money market transactions. From 6 September 2011 to 15 January 2015, the main focus of implementation was on the minimum exchange rate of CHF 1.20 per euro, which the SNB enforced during this period. On 18 December 2014, the SNB decided to impose an interest rate of -0.25% on sight deposit account balances. With the announcement of a negative interest rate, the Libor target range used then was taken into negative territory for the first time, and extended to its usual width of 1 percentage point. On 15 January 2015, the SNB lowered the interest rate on sight deposits to -0.75% and moved the target range downwards to between -1.25% and -0.25%. Negative interest has applied since 22 January 2015 and currently corresponds to the SNB policy rate.
Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.00 3.50 -0.75 2000 - 2026 percent Daily

News Stream
SNB Leaves Policy Rate Unchanged at 0%
The Swiss National Bank kept its policy rate unchanged at 0% in March 2026, maintaining remuneration on sight deposits up to a set threshold, with a 0.25 percentage point discount applied above it. Amid the Middle East conflict, the SNB signaled a greater willingness to intervene in currency markets to prevent excessive Swiss franc appreciation and protect price stability. Inflation has edged up slightly, reaching 0.1% in February, with higher energy prices expected to push it further in the near term, though medium term pressures remain stable. The SNB forecasts average inflation at 0.5% in 2026 and 2027, and 0.6% in 2028. While global growth was solid late last year, rising energy costs and geopolitical tensions are increasing uncertainty and may slow activity. Switzerland’s economy showed modest growth, with GDP rebounding in the fourth quarter, and is expected to expand around 1% in 2026, though risks remain tied to global conditions.
2026-03-19
SNB Holds Policy Rate at 0%
The Swiss National Bank left its policy rate at 0% in its final meeting of the year and maintained the 0.25-percentage-point charge on sight deposits above the set threshold. It also reaffirmed its readiness to intervene in the foreign exchange market if needed. Inflation remained subdued, slipping to 0.0% in November from 0.2% in August due to lower prices for hotels, rents, and clothing. Assuming no change in the policy rate, the SNB expects inflation at 0.2% in 2025, 0.3% in 2026, and 0.6% in 2027. Meanwhile, Swiss GDP contracted in Q3, mainly reflecting a correction in pharmaceuticals after front-loaded exports to the US, while other industries and services posted slight gains. The SNB now sees GDP growth near 1.5% in 2025, slightly above its earlier range of 1% to 1.5%, and around 1% in 2026, compared with its previous projection of just under 1%. It also expects a modest increase in unemployment as overall economic momentum remains muted.
2025-12-11
SNB Leaves Policy Rate Unchanged at 0%
The Swiss National Bank left its policy rate unchanged at 0%, maintaining the 0.25 percentage point discount on sight deposits above the set threshold, and reaffirmed its readiness to intervene in foreign exchange markets if needed. Inflationary pressure remains subdued, with inflation edging up to 0.2% in August from -0.1% in May, driven mainly by tourism and imported goods. The SNB projects inflation at 0.2% in 2025, 0.5% in 2026, and 0.7% in 2027, assuming the policy rate stays at 0%. Global growth slowed in early 2025, weighed down by US tariffs and uncertainty, with the SNB expecting subdued expansion ahead. In Switzerland, GDP growth softened to 0.5% in Q2 after a strong Q1 boosted by pharmaceutical exports. Higher US tariffs are set to dampen exports and investment, particularly in machinery and watchmaking, while services remain resilient. The SNB forecasts 1–1.5% GDP growth in 2025, slowing to just under 1% in 2026, with unemployment expected to rise further.
2025-09-25