Swiss franc little changed after SNB decision

The Swiss franc held steady near 0.79 per USD, close to 2011 highs, amid a broadly stable and after the Swiss National Bank left its policy rate unchanged at 0%, in line with expectations.

The pause follows six consecutive reductions that started in March 2024, with subdued inflationary pressures and the prospect of slowing growth amid the US 39% tariffs weighing on the decision.

The majority of economists believe the SNB has reached the end of its easing cycle, meaning that it will keep its rate at zero at least until the end of next year.

Meanwhile, the franc continues to benefit from its safe-haven status amid global economic uncertainty driven by trade and geopolitical tensions.