https://www.snb.ch/en/news-publications/news News on the Swiss National Bank (SNB) website SNB 2026-05-04T15:10:01Z Copyright © Swiss National Bank, Zurich (Switzerland) 2026 2026-05-04T15:10:01Z https://www.snb.ch/en/srv/disclaimer https://www.snb.ch/en/publications/financial-markets/claims_new https://www.snb.ch/en/publications/financial-markets/claims_new Announcements and conditions for new money market debt register claims of the Swiss Confederation (in Swiss francs) 2026-05-04T14:00:00Z SNB Announcements and conditions for new money market debt register claims of the Swiss Confederation (in Swiss francs) https://www.snb.ch/en/publications/financial-markets/claims_new 2026-05-04T14:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_a https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_a Interest rates and exchange rates, May 2026 2026-05-04T12:30:00Z SNB Interest rates and exchange rates, May 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_a 2026-05-04T12:30:00Z en https://www.snb.ch/en/the-snb/mandates-goals/monetary-policy/implementation https://www.snb.ch/en/the-snb/mandates-goals/monetary-policy/implementation Implementation of monetary policy 2026-05-04T15:10:01Z SNB Implementation of monetary policy https://www.snb.ch/en/the-snb/mandates-goals/monetary-policy/implementation 2026-05-04T15:10:01Z en https://www.snb.ch/en/the-snb/mandates-goals/services-to-the-confederation/book-claims https://www.snb.ch/en/the-snb/mandates-goals/services-to-the-confederation/book-claims Money market debt register claims 2026-05-04T15:10:01Z SNB Money market debt register claims https://www.snb.ch/en/the-snb/mandates-goals/services-to-the-confederation/book-claims 2026-05-04T15:10:01Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_gwd https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_gwd Important monetary policy data, 4 May 2026 2026-05-04T08:00:00Z SNB Important monetary policy data, 4 May 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/05/statpub_news_20260504_gwd 2026-05-04T08:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_c https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_c SNB balance sheet items end of March 2026 2026-04-30T07:00:00Z SNB SNB balance sheet items end of March 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_c 2026-04-30T07:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_sddsplus https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_sddsplus IMF SDDS Plus, 30 April 2026 2026-04-30T07:00:00Z SNB IMF SDDS Plus, 30 April 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260430_sddsplus 2026-04-30T07:00:00Z en https://www.snb.ch/en/publications/financial-markets/snb_bills_new https://www.snb.ch/en/publications/financial-markets/snb_bills_new Announcements and conditions for new SNB Bills auctions (in Swiss francs) 2026-04-29T14:00:00Z SNB Announcements and conditions for new SNB Bills auctions (in Swiss francs) https://www.snb.ch/en/publications/financial-markets/snb_bills_new 2026-04-29T14:00:00Z en https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260428 https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260428 Swiss Financial Accounts 2026-04-28T07:00:00Z SNB Swiss Financial Accounts https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260428 2026-04-28T07:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260428_fin https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260428_fin Swiss Financial Accounts, Q4 2025 2026-04-28T07:00:00Z SNB Swiss Financial Accounts, Q4 2025 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260428_fin 2026-04-28T07:00:00Z en https://www.snb.ch/en/publications/financial-markets/claims_new https://www.snb.ch/en/publications/financial-markets/claims_new Announcements and conditions for new money market debt register claims of the Swiss Confederation (in Swiss francs) 2026-05-04T14:00:00Z SNB Announcements and conditions for new money market debt register claims of the Swiss Confederation (in Swiss francs) https://www.snb.ch/en/publications/financial-markets/claims_new 2026-05-04T14:00:00Z en https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260427_gwd https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260427_gwd Important monetary policy data, 27 April 2026 2026-04-27T08:00:00Z SNB Important monetary policy data, 27 April 2026 https://www.snb.ch/en/publications/statistical-publications/data-portal/2026/04/statpub_news_20260427_gwd 2026-04-27T08:00:00Z en https://www.snb.ch/en/publications/communication/interviews/int_20260424_msl https://www.snb.ch/en/publications/communication/interviews/int_20260424_msl Interview with Martin Schlegel in the NZZ 2026-04-25T06:00:00Z SNB Interview with Martin Schlegel in the NZZ https://www.snb.ch/en/publications/communication/interviews/int_20260424_msl 2026-04-25T06:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_jsb The SNB is institutionally sound and on a solid footing. Its unique legal form, that of a special-statute joint-stock company administered with the participation and under the oversight of the Confederation, has remained unchanged since its foundation. This special institutional structure contributes significantly to the SNB's independence and stability. The shareholder structure is characterised by remarkable continuity. All cantons are shareholders in the SNB, as are all cantonal banks. The Confederation, on the other hand, does not hold shares in the SNB. What is more, because ownership is spread across a broad range of private shareholders, the SNB is firmly rooted in the Swiss population. This institutional anchoring of the SNB has proved its worth and must be maintained. In turbulent times, stability becomes a particularly valuable asset. This is precisely what the SNB has always stood for. Its mandate to ensure price stability while taking due account of economic developments forms the basis of its actions. This stability-oriented monetary policy is the result of clear principles: institutional independence, professional competence and a consistent focus on the SNB's statutory mandate. The SNB does not act in response to short-term stimuli, but on the basis of careful analysis and with a clear focus on Switzerland's long-term interests as a whole. It is precisely this that makes it a dependable point of reference in an often unsettled environment. https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_jsb The SNB - firmly anchored even in turbulent times 2026-04-24T08:00:00Z SNB The SNB - firmly anchored even in turbulent times https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_jsb The SNB is institutionally sound and on a solid footing. Its unique legal form, that of a special-statute joint-stock company administered with the participation and under the oversight of the Confederation, has remained unchanged since its foundation. This special institutional structure contributes significantly to the SNB's independence and stability. The shareholder structure is characterised by remarkable continuity. All cantons are shareholders in the SNB, as are all cantonal banks. The Confederation, on the other hand, does not hold shares in the SNB. What is more, because ownership is spread across a broad range of private shareholders, the SNB is firmly rooted in the Swiss population. This institutional anchoring of the SNB has proved its worth and must be maintained. In turbulent times, stability becomes a particularly valuable asset. This is precisely what the SNB has always stood for. Its mandate to ensure price stability while taking due account of economic developments forms the basis of its actions. This stability-oriented monetary policy is the result of clear principles: institutional independence, professional competence and a consistent focus on the SNB's statutory mandate. The SNB does not act in response to short-term stimuli, but on the basis of careful analysis and with a clear focus on Switzerland's long-term interests as a whole. It is precisely this that makes it a dependable point of reference in an often unsettled environment. Barbara Janom Steiner President of the Bank Council 118th Ordinary General Meeting of Shareholders of the Swiss National Bank, Berne 2026-04-24T08:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_msl The world is going through a period of great uncertainty. As a central bank, we have to accept this as it is - and deal with the uncertainty. The past 25 years have seen several phases of great uncertainty. Nevertheless, the SNB has achieved its objective of price stability. The Swiss economy has also developed favourably overall. We were able to do so because three prerequisites for our work were met. The first is our institutional framework and, in particular, the independence of the SNB. Independence means that in conducting our monetary policy, we must not take instructions from the government, parliament or anybody else. Legislators gave us this independence for good reason, because an independent central bank is best able to fulfil its mandate. The counterbalance to independence is accountability, and the SNB reports comprehensively on how it fulfils its tasks. The second is our monetary policy strategy, which defines our long-term frame of reference. Our definition of price stability and the conditional inflation forecast form the core of this strategy. The conditional inflation forecast is our main indicator for monetary policy. It tells us whether price stability is being met in the medium term, and shows whether there will be a need for action in the future. It is therefore at the heart of our communications. Third, the contribution made by our employees is also central to the success of our monetary policy. Every day, they put their expertise to work for the SNB, doing so with great commitment. The conflict in the Middle East is making the global economic situation very uncertain. The higher energy prices will lead to a further increase in inflation in many countries in the coming months. Global growth is likely to slow temporarily. The SNB cannot change the uncertain global environment. However, even in such conditions, we are able to successfully pursue a monetary policy that serves the interests of the country as a whole. We are prepared to adjust our monetary policy at any time if necessary, and we have the instruments to do so. Thanks to our independence, our proven monetary policy strategy and the expertise of our staff, we are well equipped to ensure that we continue to fulfil our mandate in the future. https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_msl Comments on Swiss monetary policy 2026-04-24T08:00:00Z SNB Comments on Swiss monetary policy https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260424_msl The world is going through a period of great uncertainty. As a central bank, we have to accept this as it is - and deal with the uncertainty. The past 25 years have seen several phases of great uncertainty. Nevertheless, the SNB has achieved its objective of price stability. The Swiss economy has also developed favourably overall. We were able to do so because three prerequisites for our work were met. The first is our institutional framework and, in particular, the independence of the SNB. Independence means that in conducting our monetary policy, we must not take instructions from the government, parliament or anybody else. Legislators gave us this independence for good reason, because an independent central bank is best able to fulfil its mandate. The counterbalance to independence is accountability, and the SNB reports comprehensively on how it fulfils its tasks. The second is our monetary policy strategy, which defines our long-term frame of reference. Our definition of price stability and the conditional inflation forecast form the core of this strategy. The conditional inflation forecast is our main indicator for monetary policy. It tells us whether price stability is being met in the medium term, and shows whether there will be a need for action in the future. It is therefore at the heart of our communications. Third, the contribution made by our employees is also central to the success of our monetary policy. Every day, they put their expertise to work for the SNB, doing so with great commitment. The conflict in the Middle East is making the global economic situation very uncertain. The higher energy prices will lead to a further increase in inflation in many countries in the coming months. Global growth is likely to slow temporarily. The SNB cannot change the uncertain global environment. However, even in such conditions, we are able to successfully pursue a monetary policy that serves the interests of the country as a whole. We are prepared to adjust our monetary policy at any time if necessary, and we have the instruments to do so. Thanks to our independence, our proven monetary policy strategy and the expertise of our staff, we are well equipped to ensure that we continue to fulfil our mandate in the future. Martin Schlegel Chairman of the Governing Board 118th Ordinary General Meeting of Shareholders of the Swiss National Bank, Berne 2026-04-24T08:00:00Z en https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_04 The SNB steers secured short-term interest rates by remunerating sight deposits and conducting open market operations, specifically repo transactions and the issuance of SNB Bills. These operations absorb sight deposits from the financial system to keep SARON, the most important secured short-term rate, close to the SNB policy rate. The design of repo transactions anchors SARON while supporting interbank market activity. SNB Bills strengthen monetary policy transmission to a wider range of short-term rates, as they can be purchased by a broad set of financial market participants. Issuing SNB Bills also allows the SNB to create collateral for its repo transactions. https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_04 Implementing monetary policy with repos and SNB Bills 2026-04-22T22:00:00Z SNB SNB Monetary policy implementation Interest rate steering Repos SNB Bills Implementing monetary policy with repos and SNB Bills https://www.snb.ch/en/publications/research/economic-notes/2026/economic_note_2026_04 The SNB steers secured short-term interest rates by remunerating sight deposits and conducting open market operations, specifically repo transactions and the issuance of SNB Bills. These operations absorb sight deposits from the financial system to keep SARON, the most important secured short-term rate, close to the SNB policy rate. The design of repo transactions anchors SARON while supporting interbank market activity. SNB Bills strengthen monetary policy transmission to a wider range of short-term rates, as they can be purchased by a broad set of financial market participants. Issuing SNB Bills also allows the SNB to create collateral for its repo transactions. Damien Klossner Damien Klossner Christian Myohl Christian Myohl Sabrina Stadelmann Sabrina Stadelmann Damien Klossner, Christian Myohl and Sabrina Stadelmann 2026 SNB Economic Studies 2026-04 2026-04-22T22:00:00Z en https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260423 https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260423 Interim results of the Swiss National Bank as at 31 March 2026 2026-04-23T05:15:00Z SNB Interim results of the Swiss National Bank as at 31 March 2026 https://www.snb.ch/en/publications/communication/press-releases/2026/pre_20260423 2026-04-23T05:15:00Z en https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20260422 https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20260422 Swiss National Bank welcomes full capital backing of banks' foreign participations 2026-04-22T14:30:00Z SNB Swiss National Bank welcomes full capital backing of banks' foreign participations https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20260422 2026-04-22T14:30:00Z en https://www.snb.ch/en/publications/financial-markets/snb_bills_new https://www.snb.ch/en/publications/financial-markets/snb_bills_new Announcements and conditions for new SNB Bills auctions (in Swiss francs) 2026-04-29T14:00:00Z SNB Announcements and conditions for new SNB Bills auctions (in Swiss francs) https://www.snb.ch/en/publications/financial-markets/snb_bills_new 2026-04-29T14:00:00Z en https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260422_anmar https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260422_anmar The SNB and its monetary policy 2026-04-22T12:15:00Z SNB The SNB and its monetary policy https://www.snb.ch/en/publications/communication/speeches/2026/ref_20260422_anmar Antoine Martin Vice Chairman of the Governing Board Guest lecture University of Bern 2026, Berne 2026-04-22T12:15:00Z en