Swiss National Bank Will Not Accelerate Policy Meetings, President Confirms
Zurich, Switzerland – November 21, 2025 – The Swiss National Bank (SNB) has no plans to increase the frequency of its monetary policy meetings, despite pressure from market observers and in contrast to the more frequent schedules of the European Central Bank (ECB) and the U.S. Federal Reserve. SNB President Martin Schlegel affirmed this position today during the “The SNB and its Watchers” conference.
The decision maintains the SNBS current quarterly review cycle – in march, June, September, and December – and signals a continued preference for a purposeful, phased approach to monetary policy adjustments. While the ECB and Fed convene every six weeks, Schlegel underscored the SNB’s confidence in its existing process, which prioritizes thorough analysis and flexibility. This impacts Swiss financial markets and the broader economy, as the timing of policy shifts directly influences interest rates, inflation, and the value of the Swiss Franc.
Schlegel detailed the SNB’s decision-making process, emphasizing a two-stage approach: a preparatory phase immediately following each quarterly review, and a subsequent, focused examination of the current economic and monetary landscape. ”The process leading to the SNB’s monetary policy decision takes place in two stages: a preparatory phase, followed by the examination of the economic and monetary situation strictly speaking,” he explained.
This structured methodology, according to Schlegel, allows for the effective identification of evolving conditions and the necessity for potential monetary interventions.He stressed,however,that the process is not “rigid and mechanical,” but rather allows for adaptable responses to changing circumstances. “We do not plan to increase the pace” of the meetings,he underlined.
The SNB’s next monetary policy review is scheduled for December.
