CorganoGold Price
Free widgets Market open
Gold4,011.63−0.14%Silver53.99+0.02%Platinum1,526.10−0.29%Palladium1,043.98−0.17%
Gold/Silver74.31
DXY102.05+0.09%
US10Y4.99%−0.04%
WTI101.14−0.61%
S&P 5007,677+0.70%
Dow52,362+0.28%
Bitcoin80,127+0.15%
VIX18.39−5.45%

Swiss National Bank Interest Rate Today

The SNB policy rate is 0.00%. The Swiss National Bank last cut it by 0.25 point, with effect from 20 June 2025. Swiss inflation (HICP) was 1.2% in the 12 months to September 2026, so the real policy rate is minus 1.20%. Gold in Swiss francs is up 18.7% since that decision. Next SNB assessment: Thursday 10 December 2026 at 09:30.

SNB policy rate
0.00%
−25 bp from Jun 20, 2025
Swiss inflation
1.2%
Sep 2026 · real rate −1.20%
Next SNB assessment
Thu 10 Dec
09:30 CET · in 44 days
Gold in CHF since last move
+18.7%
CHF 3,308/oz · $1 = CHF 0.8246
SNB gold (1,040 t)
$134bn
CHF 111bn at today's price

SNB policy rate and gold in Swiss francs since 2000

weekly · gold on a log scale (right)
-1% 0% 1% 2% 3% 4% CHF 500CHF 1,000CHF 2,000CHF 4,000 200020052010201520202025
SNB policy rate (target-range midpoint before June 2019)Gold in CHF (right scale)

SNB Rate Cycles Since 2000 and Gold in Francs

Runs of SNB hikes or cuts (a gap of two years or more starts a new run), and how gold did in Swiss francs (our calculations).

CycleFrom → toMovesGold during12 months after the first move
Cuts Mar 2024–Jun 2025 1.75% → 0.00% 6 (−175 bp) +41.5% +36.2%
Hikes Jun 2022–Jun 2023 -0.75% → 1.75% 5 (+250 bp) −4.0% −2.6%
Cuts Dec 2014–Jan 2015 0.13% → -0.75% 2 (−88 bp) −3.6% −8.1%
Cuts Aug 2011 0.38% → 0.13% 1 (−25 bp) — +23.1%
Cuts Oct 2008–Mar 2009 2.75% → 0.38% 5 (−238 bp) +10.4% +7.5%
Hikes Jun 2004–Sep 2007 0.38% → 2.75% 10 (+238 bp) +70.9% +13.9%
Cuts Mar 2001–Mar 2003 3.50% → 0.38% 7 (−313 bp) +6.0% +9.3%
Hikes Feb 2000–Jun 2000 1.75% → 3.50% 3 (+175 bp) −0.2% −7.9%
Gold in CHF is the COMEX close times Swiss francs per US dollar (ECB reference rates: francs per euro ÷ dollars per euro). Past cycles are not a forecast; compare: ECB interest rate.

Year by Year

YearPolicy rate at year-endInflation (Dec)$1 in CHF at year-endGold in CHF that year
2026 (so far)0.00%1.2%0.8262−3.8%
20250.00%0.2%0.7927+43.8%
20240.50%0.4%0.9060+37.8%
20231.75%2.0%0.8380+3.0%
20221.00%2.7%0.9232+1.1%
2021-0.75%1.3%0.91210.0%
2020-0.75%-1.0%0.8803+13.6%
2019-0.75%-0.1%0.9662+16.7%
2018-0.75%0.8%0.9842−1.3%
2017-0.75%1.1%0.9757+8.7%
2016-0.75%-0.2%1.0188+11.1%
2015-0.75%-1.3%0.9952−10.0%
2014-0.25%-0.1%0.9904+9.6%
20130.13%0.2%0.8901−29.4%
20120.13%-0.3%0.9150+5.4%
20110.13%-0.4%0.9395+9.4%
20100.38%0.5%0.9358+17.4%
20090.38%0.1%1.0298+20.7%
20080.50%0.4%1.0670−1.0%
20072.75%2.0%1.1240+21.5%
20062.00%0.5%1.2201+14.0%
20051.00%1.0%1.3182+37.1%
20040.75%—1.1327−3.9%
20030.38%—1.2335+6.8%
20020.75%—1.3850+3.4%
20011.75%—1.6826+3.6%
20003.50%—1.6370−3.1%
Inflation: HICP for Switzerland (Eurostat), 12-month rate in December (this year: the latest month). The Swiss Federal Statistical Office's own CPI can differ slightly.
Every SNB rate change since 2000 (39)
EffectiveNew rateChangeGold in CHF that day1 month later
Jun 20, 20250.00%−25 bpCHF 2,768−3.6%
Mar 21, 20250.25%−25 bpCHF 2,664+4.2%
Dec 13, 20240.50%−50 bpCHF 2,388+2.0%
Sep 27, 20241.00%−25 bpCHF 2,253+4.6%
Jun 21, 20241.25%−25 bpCHF 2,080+1.2%
Mar 22, 20241.50%−25 bpCHF 1,942+9.4%
Jun 23, 20231.75%+25 bpCHF 1,733−1.0%
Mar 24, 20231.50%+50 bpCHF 1,823−2.6%
Dec 16, 20221.00%+50 bpCHF 1,675+7.3%
Sep 23, 20220.50%+75 bpCHF 1,624+1.9%
Jun 17, 2022-0.25%+50 bpCHF 1,774−7.5%
Jan 15, 2015-0.75%−50 bpCHF 1,111−9.4%
Dec 18, 2014-0.25%−38 bpCHF 1,172−3.2%
Aug 3, 20110.13%−25 bpCHF 1,287+14.7%
Mar 12, 20090.38%−13 bpCHF 1,102−2.6%
Dec 11, 20080.50%−50 bpCHF 986−4.0%
Nov 20, 20081.00%−100 bpCHF 900+0.8%
Nov 6, 20082.00%−50 bpCHF 886+3.2%
Oct 8, 20082.50%−25 bpCHF 1,023−13.5%
Sep 13, 20072.75%+25 bpCHF 832+6.4%
Jun 14, 20072.50%+25 bpCHF 813−0.5%
Mar 15, 20072.25%+25 bpCHF 789+5.1%
Dec 14, 20062.00%+25 bpCHF 760+3.3%
Sep 14, 20061.75%+25 bpCHF 729+0.8%
Jun 15, 20061.50%+25 bpCHF 701+16.6%
Mar 16, 20061.25%+25 bpCHF 718+6.3%
Dec 15, 20051.00%+25 bpCHF 651+7.9%
Sep 16, 20040.75%+25 bpCHF 513+2.5%
Jun 17, 20040.50%+13 bpCHF 486+3.2%
Mar 6, 20030.38%−38 bpCHF 474−4.7%
Jul 26, 20020.75%−50 bpCHF 442+4.7%
May 2, 20021.25%−50 bpCHF 496+1.8%
Dec 7, 20011.75%−50 bpCHF 455+1.1%
Sep 24, 20012.25%−50 bpCHF 459−0.6%
Sep 18, 20012.75%−50 bpCHF 462−2.3%
Mar 22, 20013.25%−25 bpCHF 449+0.5%
Jun 15, 20003.50%+50 bpCHF 472−0.5%
Mar 23, 20003.00%+75 bpCHF 473−2.7%
Feb 3, 20002.25%+50 bpCHF 470+1.4%
From the BIS series: the SNB policy rate from 13 June 2019, the middle of the SNB's target range for three-month Libor from 2000 to June 2019. Dates are when the new rate applied (usually the day after the announcement).

SNB Interest Rate: FAQ

What is the Swiss National Bank interest rate today?

The SNB policy rate is 0.00%, in force since 20 June 2025. Since June 2019 the SNB sets a single policy rate and keeps the overnight rate (SARON) close to it; before that it set a target range for the three-month Swiss franc Libor (the figures here use the middle of the range).

When is the next SNB rate decision?

The SNB announces its next quarterly monetary policy assessment on Thursday 10 December 2026 at 09:30 Swiss time. It decides four times a year, in March, June, September and December.

How do SNB rates affect the gold price in Swiss francs?

Gold is priced in US dollars. The franc is a safe-haven currency that tends to rise when markets are nervous, which can offset gold's gains for Swiss buyers. Very low or negative Swiss rates mean savers give up little or nothing by holding gold instead of cash, one reason gold is popular in Switzerland.

How much gold does the Swiss National Bank hold?

1,040 tonnes, unchanged since the SNB finished selling gold it no longer needed for monetary policy in 2008. At today's price that is worth about $134 billion (CHF 111 billion). About 70% is stored in Switzerland, 20% at the Bank of England and 10% at the Bank of Canada.

Where do the figures come from?

The policy rate from the Bank for International Settlements (central bank policy rates), inflation from Eurostat (HICP for Switzerland), and Swiss francs per US dollar from the ECB's euro reference rates. Gold in francs is our calculation from COMEX closes; today's figure uses the live spot price.

Policy rate: Bank for International Settlements, central bank policy rates (WS_CBPOL). BIS data portal (source: Swiss National Bank). Inflation: Eurostat, HICP annual rate of change (prc_hicp_minr). Exchange rates: Source: ECB statistics (ECB Data Portal). The BIS, Eurostat, the ECB and the Swiss National Bank do not endorse Corgano. The SNB's gold holdings (1,040 tonnes) are as reported in its annual reports. Gold prices are COMEX front-month futures closes; prices in francs, cycle and yearly changes, the real rate and gold values are Corgano's calculations.

See also: gold price in Switzerland · Swiss gold imports and exports · ECB interest rate · Fed funds rate.

Cite this page

For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.

APA 7
Corgano. (2026, October 27). Swiss national bank interest rate today. Corgano Gold Price. Retrieved October 27, 2026, from https://goldprice.corgano.com/snb-interest-rate
MLA 9
“Swiss National Bank Interest Rate Today.” Corgano Gold Price, goldprice.corgano.com/snb-interest-rate. Accessed 27 Oct. 2026.
Chicago
Corgano. “Swiss National Bank Interest Rate Today.” Corgano Gold Price. Accessed October 27, 2026. https://goldprice.corgano.com/snb-interest-rate.
BibTeX
@misc{corgano2026swissnationalbankinterest, author = {{Corgano}}, title = {Swiss National Bank Interest Rate Today}, howpublished = {\url{https://goldprice.corgano.com/snb-interest-rate}}, year = {2026}, note = {Corgano Gold Price, accessed 2026-10-27}}
Link
Swiss National Bank Interest Rate Today — Corgano Gold Price: https://goldprice.corgano.com/snb-interest-rate