At the monetary policy assessment of 9 and 10 December 2025, the Governing Board of the Swiss National Bank decided to leave the SNB policy rate unchanged at 0%. The SNB communicated its monetary policy decision to the public on 11 December 2025. The decision was preceded by an analysis and discussion of the monetary policy conditions and the economic conditions. Areas covered included the situation on the financial markets, monetary indicators, international conditions, the economic situation and the economic outlook for Switzerland. The decision was taken by Martin Schlegel (Chairman of the Governing Board), ... (full story)