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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

Banks in Switzerland 2018

18 days ago

The Swiss National Bank has today published its report Banks in Switzerland 2018 and the corresponding data for its annual banking statistics.1 The most significant events are summarised below.

As at the end of 2018, there were 248 banks in Switzerland. Of this number, 216 reported a profit with an aggregated total of CHF 12.8 billion. Losses amounting to CHF 1.3 billion were recorded by 32 banks. The aggregate result of the period across all banks was thus CHF 11.5 billion, an increase of CHF 1.7 billion over 2017. The big banks contributed CHF 4.9 billion to the result of the period, with cantonal banks and stock exchange banks adding CHF 2.9 billion and CHF 1.5 billion respectively.
The aggregate balance

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Monetary policy assessment of 13 June 2019

June 13, 2019

Swiss National Bank leaves expansionary monetary policy unchanged and introduces SNB policy rate
The Swiss National Bank is maintaining its expansionary monetary policy, thereby stabilising price developments and supporting economic activity. Interest on sight deposits at the SNB is unchanged at –0.75%. The SNB will remain active in the foreign exchange market as necessary, while taking the overall currency situation into consideration.
The Swiss National Bank is today introducing the SNB policy rate.1 From now on, it will use this rate in taking and communicating its monetary policy decisions. The SNB policy rate replaces the target range for the three-month Libor used previously, and currently stands at −0.75%.

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