Important
SEPTEMBER 22, 2022 AT 07:30 AMSNB hikes its Policy Rate by 75bps to 0.5% as expected; willing to be active in FX market as necessary; further rate hikes cannot be ruled out; no CHF classification in release
Source
SectionSNB
INFLATION
- Inflation rose to 3.5% in August and is likely to remain at an elevated level for the time being. The latest rise in inflation is principally due to higher prices for goods, especially energy and food.
EXEMPTION THRESHOLD
- This ensures that the secured short-term Swiss franc money market rates remain close to the SNB policy rate. Banks’ sight deposits held at the SNB are remunerated at the SNB policy rate up to a certain threshold. Sight deposits above this threshold are remunerated at an interest rate of zero percent. The SNB will also use liquidity-absorbing measures.
Via SNB