Swiss National Bank Holds Interest Rate at Zero Amid Inflation Risks

Central bank officials signaled readiness to intervene in foreign exchange markets in order to support the economy.

The Swiss National Bank (SNB) logo on its building in Bern, Switzerland, on April 2, 2022. Arnd Wiegmann/Reuters

The Swiss National Bank (SNB) has left its benchmark interest rate unchanged at zero percent, saying inflation remains low despite rising energy costs and the uncertainty surrounding the conflict in the Middle East.

The decision keeps borrowing costs at their current level after inflation rose from 0.1 percent in February to 0.6 percent in May.