What moves the Swiss franc
The Swiss franc is set against the rest by one bank, the Swiss National Bank (SNB), and by the things that bank has to react to. Here is the rate it has set, what it is aiming at, the releases that move this currency and what is on the calendar this week.
Rate and calendar as the research last recorded them, Wed Sep 23, 2026, 3:14pm.
In short
- Central bank
- Swiss National Bank (SNB)
- Policy rate
- 0.00%
- Next meeting
- 24 Sept 2026
- What the bank targets
- Price stability: inflation below 2% a year
The three things that move it
- 1Demand for safety. The franc rises when Europe is nervous, whatever Switzerland itself is doing.
- 2The Swiss National Bank, which has the lowest rate of the eight and a long history of acting on the currency directly.
- 3Swiss inflation, which is usually the lowest in the group and gives the bank little to react to.
A safe haven that tends to gain when markets turn cautious.
On the calendar this week
- Thu 09:30SNB decision
Times in Amsterdam. The whole week for all eight is on the calendar page.
The other seven
A currency is only strong or weak against another one, so the page next door matters as much as this one.
- USD US dollar
- EUR Euro
- JPY Japanese yen
- GBP British pound
- AUD Australian dollar
- NZD New Zealand dollar
- CAD Canadian dollar
What the rate gap between two of them pays is on the rate differentials page, and how a pair is scored from two currencies is on the fundamental bias page.
Questions about the Swiss franc
What moves the Swiss franc?
What the Swiss National Bank (SNB) does and is expected to do, the releases that bank steers on, the mood of the wider market, and anything political big enough to be priced. A currency only moves against another one, so the same questions apply to the other side of the pair.
Which central bank sets the CHF rate, and what is it aiming at?
The Swiss National Bank (SNB). Its target: price stability: inflation below 2% a year. A release matters most when it speaks to that target.
Where can I see the current CHF policy rate?
At the top of this page, next to the next scheduled meeting, and next to the other seven on our rate differentials page. It follows the research, so a decision shows up on the day it is made. All eight rates
Do you publish a CHF forecast?
No. We publish a reading of now: how the currency scores against the other seven today and why, rewritten when the news changes. Nobody here will tell you where a currency will be next month. How past calls turned out