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Swiss National Bank keeps interest rate at zero

BY Reuters | ECONOMIC | 09/25/25 03:30 AM EDT

By John Revill

ZURICH, Sept 25 (Reuters) - The Swiss National Bank held its key interest rate at zero on Thursday, the lowest among major central banks, as it weighs the impact of U.S. President Donald Trump's tariffs on the Swiss economy.

The SNB kept its policy rate unchanged at 0%, as expected by markets and a Reuters poll, helped by a small uptick in inflation in recent months.

The decision marks the first hold in seven meetings by the SNB, after it started reducing borrowing costs in March 2024.

(Reporting by John Revill Editing by Dave Graham)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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