Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
Japan’s Rising Inflation Strengthens Case for a Near-Term BOJ Rate Hike 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Holiday Economic Questions: What Bank of America Says You Should Expect 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Silver Spikes to $62.89 on Fed Cut – But Weekly Bearish Divergence Flashes Caution: Don’t Chase, Wait for the Dip 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Policy Decision
At today's December 2025 monetary policy evaluation, the Swiss National Bank left its policy rate unchanged at 0%, therefore sustaining one of the most accommodative positions among top central banks. Sight deposits are compensated at 0% up to a certain threshold, with a small 25-basis-point discount applied to values above it. Once more stressing its willingness to intervene as needed in the foreign exchange market, the SNB indicated continued worry about possibly excessive Swiss franc appreciation.
Inflation is still practically non-existent.
Driven by lower hotel, rent, and clothing prices, Swiss inflation has dropped from 0.2% in August to exactly 0.0% in November. Assuming steady 0% rates, the SNB's new conditional inflation prediction projects average CPI at merely 0.2% in 2025, 0.3% in 2026, and 0.6% in 2027—all comfortably within but at the very lower end of the 0–2% price-stability range.
Outlook and Market Forecast
While preserving price stability and supporting economic activity, the Bank judges medium-term inflationary pressure to be mostly unchanged and believes the current ultra-easy policy to be suitable. Global risks have little eased but are still great. Markets and analysts nearly all anticipate the SNB to maintain 0% rates throughout 2026, with just a rather low likelihood priced in for a return to negative area.
