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The Swiss National Bank is leaving the SNB policy rate unchanged at 0%. Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. The discount for sight deposits above this threshold is unchanged at 0.25 percentage points. If necessary, the SNB has an increased willingness to intervene in the foreign exchange market. The SNB thereby counters a rapid and excessive appreciation of the Swiss franc, which would jeopardise price stability in Switzerland. Inflation has risen in recent months as a result of higher energy prices. Medium-term inflationary pressure, however, is virtually unchanged compared with the last monetary policy assessment. The SNB's monetary policy is appropriate to keep inflation within the range consistent with price stability and it supports economic development. The SNB will continue to monitor the situation and adjust its monetary policy if necessary, in order to ensure price stability. As expected, inflation has risen since the last monetary policy assessment, from 0.1% in February to 0.6% in May. This increase was mainly attributable to higher prices for oil products. The other goods and services made little contribution to the rise in inflation. According to th * #SNB LEAVES POLICY RATE AT 0%; EST. 0% - BBG *SNB SAYS PREPARED TO INTERVENE IN CURRENCY MARKETS IF NEEDED *SNB HAS AN INCREASED WILLINGNESS TO INTERVENE IN FX MARKETS *SNB SEES 2026 GDP GROWTH ABOUT 1% *SNB SEES 2027 GDP GROWTH ABOUT 1.5% *SNB SEES 2026 INFLATION AT 0.6%;…

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Ladies and gentlemen On behalf of the Governing Board, it is my pleasure as Chairman to welcome you to the SNB's news conference. After our introductory remarks, we will as usual be pleased to take any questions you may have. Monetary policy decision I will begin with our monetary policy decision. We have decided to leave the SNB policy rate unchanged at 0%. Banks' sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. The discount for sight deposits above this threshold is unchanged at 0.25 percentage points. If necessary, we have an increased willingness to intervene in the foreign exchange market. We thereby counter a rapid and excessive appreciation of the Swiss franc, which would jeopardise price stability in Switzerland. Inflation has risen in recent months as a result of higher energy prices. Medium-term inflationary pressure, however, is virtually unchanged compared with the last monetary policy assessment. Our mo SNB's Chairman Schlegel: Energy prices still determined by war situation. SNB's Chairman Schlegel: If necessary our readiness to intervene in forex market is higher, difficult to say if it is more or less than before.

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