The Swiss National Bank is leaving the SNB policy rate unchanged at 1.75%. Banks’ sight deposits held at the SNB are remunerated at the SNB policy rate up to a certain threshold, and at 1.25% above this threshold. The SNB is also willing to be active in the foreign exchange market as necessary. Inflationary pressure has decreased slightly over the past quarter. However, uncertainty remains high. The SNB will therefore continue to monitor the development of inflation closely, and will adjust its monetary policy if necessary to ensure inflation remains within the range consistent with price stability over the medium ... (full story)