What it measures
At each quarterly assessment the SNB sets the SNB policy rate and explains its view of inflation and the economy. It also states how willing it is to trade in the foreign exchange market to influence the franc.
The calendar shows the date and time of this release only; the figure itself is on the official page linked at the bottom.
Who publishes it and when
The SNB holds its monetary policy assessments in the middle of March, June, September and December. The decision is published at 09:30 Zurich time, followed by a press conference.
How it is put together
The decision is taken by the SNB's Governing Board. The bank defines price stability as inflation between 0% and 2% and publishes a conditional inflation forecast with each decision.
What traders watch
Traders watch the rate, the new inflation forecast and the wording about the franc and currency interventions, which can matter as much as the rate itself.
How markets have usually reacted
A surprise rise or a firmer tone has often strengthened the franc; a cut or stronger talk of intervention has often weakened it. Because the franc is often treated as a safe haven, global events can overshadow the decision.
Common mistakes
- Forgetting the SNB meets only four times a year, so each decision can carry more change.
- Reading the rate alone and missing the comments on the currency.
How a higher or lower figure is usually read
There is no figure in the calendar for this event. A rate rise is usually read as supportive for the franc and a cut as negative. Not a signal.
Release history
No past releases recorded yet.
Related news
- Swiss Consumer Price Index (CPI)
- ECB Rate Decision (deposit facility rate)
- FOMC Rate Decision (Federal Reserve)
- Economic calendar: every release this week in your time zone
- Lot size calculator: keep your risk the same around news
- How to use an economic calendar: what happens around a release, and how to plan for it
Trading involves a high risk of loss. This page is information and education, not advice or a signal to trade. See the Risk Disclaimer.
Official source
Published by Swiss National Bank (SNB): www.snb.ch