Martin Schlegel, Antoine Martin, Petra Tschudin: Introductory remarks by the Governing Board, Swiss National Bank news conference

Introductory remarks by Mr Martin Schlegel, Chairman of the Governing Board of the SNB, Mr Antoine Martin, Vice Chairman of the Governing Board of the SNB, and Ms Petra Tschudin, Member of the Governing Board of the SNB, at the Media News Conference of the Swiss National Bank, Zurich, 19 June 2025.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Central bank speech  | 
23 June 2025
by Martin Schlegel, Antoine Martin and Petra Tschudin
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  |  6 pages

Ladies and gentlemen

On behalf of the Governing Board, it is my pleasure as Chairman to welcome you to the SNB's news conference. Petra Tschudin and I will begin by explaining the monetary policy decision and looking at inflation and economic developments. Antoine Martin will then present the Financial Stability Report. 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 lower the SNB policy rate by 0.25 percentage points to 0%. The new policy rate applies from tomorrow, 20 June 2025. 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 remains unchanged at 0.25 percentage points. We remain willing to be active in the foreign exchange market as necessary.