08:30 AM BST, Switzerland - SNB Interest Rate Decision (Q2) for December:
- actual 0.00%; forecast 0.00%; previous 0.25%;
The Swiss National Bank (SNB) cut its policy rate by 25 basis points to 0%, effective June 20, 2025, in response to falling inflation, which dropped to -0.1% in May. The move is aimed at countering reduced inflationary pressure, with the SNB signaling readiness to adjust policy further if needed.
The updated inflation forecast remains within the price stability range, now seen averaging 0.2% in 2025, 0.5% in 2026, and 0.7% in 2027. While Switzerland's GDP growth was strong in Q1 due to early US-bound exports, the SNB expects more moderate growth of 1–1.5% for both 2025 and 2026, with slight rises in unemployment and global risks—especially trade tensions—posing key uncertainties. SNB also underscore its readiness to intervene on FX market as needed.
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