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Swiss National Bank Market News

Founded in 1906, the Swiss National Bank is a joint-stock company headquartered in Zurich and Berne, with an office in Singapore. As an independent central bank it sets monetary policy and regulates the Swiss financial sector, while determining and distributing profits to the Confederation, the cantons and private shareholders. The SNB defines price stability as a rise in consumer prices of not more than 2% per annum. At -0.75%, the SNB has held the world's lowest policy rate for almost a decade, while intervening in the foreign currency market as necessary to protect the level of the Swiss franc, a highly-valued safe-haven currency. The SNB is led by a Governing Board. In 2020, all three members were reappointed to serve until 2027. Current chairman Thomas Jordan took office in 2012, having joined the bank in 1997.

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