SNB Keeps Policy Rate at 0% Amid Rising Inflation

The Swiss National Bank has decided to keep its policy rate unchanged at 0%. This decision affects banks' sight deposits held at the SNB, which will be remunerated at the same rate up to a certain threshold.

The discount for sight deposits above this threshold remains at 0.25 percentage points. The SNB is also prepared to intervene in the foreign exchange market as needed to ensure that monetary conditions are appropriate.

Inflation has increased since June, primarily due to higher energy prices, but medium-term inflationary pressure has only slightly increased.