SNB Keeps Interest Rate at Zero Amid Rising Inflation

The Swiss National Bank (SNB) has maintained its key interest rate at zero, sticking to a policy it introduced in June 2025. This decision comes as inflation rises due to oil prices, but the bank believes its stance remains appropriate for keeping prices within the 0-to-2% target range and supporting the economy.

The SNB also increased its growth forecast for Switzerland to between 1.5% and 2% in 2026, up from around 1% in June. Inflation is now projected at 0.7% this year and 0.8% next.

This move puts the SNB on a different course than the US Federal Reserve and the European Central Bank, which have recently raised their rates. The bank warns that trade policy and currency movements remain sources of uncertainty.