The Swiss National Bank decided to hold its benchmark rate and signaled increased willingness to intervene in the foreign exchange market to counter the excessive appreciation of currency amid the conflict in the Middle East.
The central bank left its policy rate at zero percent on Thursday, in line with market expectations.
The SNB had reduced the key rate by 175 basis points since March 2024. The bank exited its negative rate in 2022 after holding it for over seven years.
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