Monetary policy decisions

The SNB conducts an in-depth monetary policy assessment in March, June, September and December. Each of these assessments results in a monetary policy decision and the publication of a medium-term conditional inflation forecast. The SNB sets out the reasons for its decisions in a press release and in a quarterly monetary policy report published in the Quarterly Bulletin.

The SNB also holds a news conference to explain its monetary policy after each monetary policy assessment. The speech by the Chairman of the Governing Board provides a commentary on monetary policy and is available on this page. The speeches given by the other Governing Board members at the news conference are available here.

Monetary policy by year

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The monetary policy strategy

The SNB conducts Switzerland’s monetary policy as an independent central bank. You can find all relevant information here.

Implementation of monetary policy

Find out about the implementation of monetary policy and the instruments used here.

Foreign exchange operations

Everything about the SNB’s foreign exchange operations

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