SNB Keeps Policy Rate Unchanged Amid Rising Inflation Concerns

The Swiss National Bank (SNB) has announced that it will keep its policy rate unchanged at 0%.

Banks' sight deposits held at the SNB will be remunerated at this rate up to a certain threshold, with a discount of 0.25 percentage points for deposits above this threshold remaining unchanged.

The SNB is also prepared to intervene in the foreign exchange market as necessary to maintain appropriate monetary conditions.

This decision comes amid rising inflation, primarily driven by higher energy prices since June.