SNB Policy Rate - Switzerland Swiss Central Bank interest rate

This page shows the current and historic values of the Policy Rate as set by the Swiss Central Bank (Swiss National Bank, SNB). The Policy Rate is often regarded as the most important interest rate of the SNB.

The current interest rates of more central banks

Current SNB policy rate
1.50 %
1.75 %
1.50 %
1.00 %
0.50 %
-0.25 %
-0.75 %
-0.50 %
0.13 %
0.38 %

Chart SNB policy rate

Historical interest rates

Our content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.

Swiss National Bank (SNB)

The Swiss National Bank (SNB) is the central bank of Switzerland. Since 4 languages are spoken in Switzerland, the names of the bank in the various languages are as follows:

  • German: Schweizerische Nationalbank
  • French: Banque Nationale Suisse
  • Italian: Banca Nazionale Svizzera
  • Romansh: Banca Naziunala Svizra

The central bank pursues Swiss monetary policy as an independent central bank and issues Swiss francs. The SNB's most important goals are to safeguard price stability, to prevent high levels of inflation or deflation, and to ensure a climate which is aimed at economic growth. The central bank has set an inflation target of no more than 2% a year for the medium to long term.

View the current and historical inflation in Switzerland

3 elements jointly make up the monetary policy of the Swiss national bank:

  • the SNB decides how price stability is defined;
  • the monetary policy measures are based on an inflation forecast for the medium term;
  • the central bank sets a target range for the short-term Swiss franc money market rates.

SNB Policy Rate

When reference is made to the Swiss interest rate this usually refers to the SNB Policy Rate. This base rate is also called the reference interest rate and is used by the Swiss central bank to guide the level of interest rates in the Swiss money market.

The Swiss central bank can thus use its monetary policy to influence the interest rates for products such as loans, savings and mortgages. Monetary policy can also affect the exchange rates of the Swiss franc.