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Swiss National Bank


The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

Articles by SwissNationalBank

SNB Monetary Policy Assessment June 2021

June 17, 2021

Swiss National Bank maintains expansionary monetary policy
The SNB is maintaining its expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy in its recovery from the impact of the coronavirus pandemic. It is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%, and remains willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration. The Swiss franc remains highly valued. The SNB’s expansionary monetary policy provides favourable financing conditions, contributes to an appropriate supply of credit and liquidity to the economy, and counters upward pressure on the Swiss franc.

SNB Switzerland Conditional

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Swiss Financial Accounts: Household wealth in 2020 and focus article

May 1, 2021

Financial and real estate wealth of households increases
The Swiss National Bank is today publishing data on Q4 2020 as part of the financial accounts. Thus, household wealth data are now also available for the full year.
Overall, financial assets held by households increased by CHF 108 billion to CHF 2,851 billion (up 3.9%) in 2020. High capital losses in Q1 2020 due to falling stock market prices were followed by a recovery during the remainder of the year. Both transactions and capital gains contributed to this recovery.

The market value of real estate owned by households grew by CHF 94 billion to CHF 2,212 billion (up 4.4%) in 2020, principally due to rising real estate prices. Liabilities, which consist mainly of mortgages, rose by CHF 25 billion to CHF

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