SNB Interest Rate Decision, September 2025
The Swiss National Bank held the SNB policy rate at 0.00% on September 25, 2025, as expected.
What the SNB decided in September 2025
USD/CHF after the SNB decision, minute by minute
One-minute candles, Zurich time. The box is the hour before the announcement. How we measure.
- The hour beforeUSD/CHF ranged 10 pips, from 0.79508 to 0.79612, and was at 0.79612 at the announcement.
- The first spike After 0 minutes price went through the hour's high and ran 0.4 pips past it.
- The close back A five-minute candle closed back inside the range after 5 minutes.
- The other side Price then traded through the opposite edge of the range within four hours.
- The moves From the last price before the announcement: −4.3 pips at 15 minutes, +1.1 pips at one hour, −2.7 pips at four hours.
Across 7 measured SNB decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 4 (57%), and in 1 of those price then took the other side within four hours. In the other 3 the first move held. Median move in the first 15 minutes: 17 pips.
This decision is one of the closed-back cases. Counts include the decisions where it did not close back. All SNB dates · SNB overview.
SNB September 2025 decision: questions
What time was the SNB interest rate decision on Sep 25, 2025?
It was announced at 9:30 AM Zurich (3:30 AM EDT New York, 8:30 AM London London), with the press conference at 10:00 AM Zurich.
What did the SNB decide in September 2025?
Held at 0.00% (previous 0.00%). Economists expected: hold at 0.00%, so the decision was as expected.
How did USD/CHF react to the SNB decision in September 2025?
On one-minute candles: the hour before ranged 10 pips; the first spike went above it by 0.4 pips; a five-minute candle closed back inside after 5 minutes; after one hour USD/CHF was +1.1 pips from its pre-announcement price.
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