Monetary policy by year

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 of the other Governing Board members at the news conference are to be found under Information for/Media/Speeches.