This article has been translated from English to Gen Z Slang.
As expected, the Swiss National Bank (SNB) was chillin' and left interest rates at a solid 0.00% during their December meet-up, even though inflation hit rock bottom on their target vibes. 😎
The SNB fam made it clear they ain’t about that negative rates life and hinted that their money moves could stay on the same playlist for a hot minute. 🔥
Key Takeaways
- SNB hit pause on the rates at 0%, which was pretty much on everyone's bingo card 🎯
- Swiss inflation stuck at 0% in November, just vibing at the low-end of SNB’s 0-2% range
- They low-key adjusted near-term inflation deets, but the medium-term tea stayed the same
- They’re not about that negative rate life, saying it's got some “nah fam” side effects 😬
The bank's also like, “We'll mess with foreign markets if we gotta,” but they let us know loud and clear that interest rates are their main ride or die, a major switch-up from back in the pre-pandemic days when they played the FX intervention game more often. FX interventions. 🚀
Peep the SNB official statement (December 2025)
But hold up, they totally lowered their inflation expectations for the next few quarters, now predicting a chill 0.1% in Q1 2026, then only getting to 0.2% in Q2, and 0.3% in Q3, instead of the more hype numbers they had back in September like 0.5%, 0.5%, and 0.6%. 📉
During the press chat, Governor Martin Schlegel, with his crew Vice Chairman Antoine Martin and Governing Board Member Petra Tschudin, backed up their zero-interest rates vibes hard. They’ve been saying for months now that negative interest rates are the party poopers of the financial world, messing with markets, making banks sad, and bumming out the savers.
Catch the SNB Press Conference (December 2025)
Market Reactions
Swiss Franc vs. Major Currencies: 5-min
Overlay of CHF vs. Major Currencies Chart by TradingView
The Swiss franc was flexin' even before the SNB's big reveal, and showed up all bullish with the decision not to take rates down to negative land. 💪🇨🇭
But of course, CHF lost a little hype during the press Q&A sesh because traders were trying to figure out what the lack of easing might mean for the Swiss econ when inflation is meh, while also thinking about SNB's dabble in the currency market when they feel like it.
Still, CHF came back with a vengeance, keeping the rally alive as the London scene picked up, probably thanks to the vibes that major rate cuts aren't on the menu till early 2026. It slayed against USD (+0.49%), then CAD (+0.27%) and JPY (+0.22%), but just barely made it above zero against AUD (+0.01%) and NZD (-0.04%) as the U.S. biz day started. 🚀🔥