Economics
Seven Years of Inaction on SNB Rates Day Won’t End This Week
- SNB’s major policy shifts were ad hoc communications
- Last change at a scheduled meeting was in March 2009
Thomas Jordan, president of the Swiss National Bank.
Photographer: Michele Limina/BloombergThis article is for subscribers only.
Anyone feeling let down that the European Central Bank didn’t do much last week might just want to skip the Swiss rate decision on Thursday to avoid more disappointment.
While the Swiss National Bank may be infamous for some seismic policy changes in the last few years, those bombshells weren’t dropped at scheduled meetings. In fact, the last time the institution altered interest rates at a decision in its public calendar was more than seven years ago.