SNB Keeps Interest Rates at 0% Amid Market Expectations

The Swiss National Bank (SNB) has decided to keep its key policy rates unchanged at 0%, in line with market expectations.

This move is part of the SNB's mandate to ensure price stability in the medium and long term, which means keeping inflation below 2% per year. The SNB aims to maintain appropriate monetary conditions through interest rate levels and exchange rates.

The central bank has a history of intervening in the foreign exchange market to prevent the Swiss Franc (CHF) from appreciating too much against other currencies. A strong CHF can hurt the country's export sector, so the SNB uses its foreign exchange reserves to buy other currencies like the US Dollar or Euro.