The Swiss National Bank (SNB) on Thursday announced that it will maintain its policy rate at 0.00%, citing stable inflationary pressures and a slowing global economy.
“Inflationary pressure is virtually unchanged compared to the previous quarter. Monetary policy helps to keep inflation within the range consistent with price stability and supports economic development,” the SNB said in a statement.
The central bank highlighted that global economic growth slowed in the first half of 2025, weighed down by US tariffs and heightened uncertainty.
Inflation and GDP outlook
The SNB projects Switzerland’s annual inflation at 0.2% in 2025, rising to 0.5% in 2026 and 0.7% in 2027. On growth, it estimates that GDP will expand by 1%–1.5% in 2025, before cooling to below 1% in 2026.
