SNB Tones Down Franc Intervention Threat

The Swiss National Bank (SNB) has backed off its threat to intervene in the foreign exchange market to weaken the franc, citing a shift in the price environment. In a decision announced on September 24, 2026, officials led by President Martin Schlegel decided to keep interest rates at zero, maintaining the world's lowest level for a fifth consecutive quarter.

The SNB removed language from its statement about an 'increased willingness' to sell the currency, indicating a softer stance on franc strength. This decision comes as inflation forecasts were raised, suggesting that the central bank is cautiously optimistic about the economy.