Forex
SNB Keeps Policy Rate Zero, Raises Inflation Forecasts Amid Energy Price Pressures
The Swiss National Bank (SNB) maintained its policy rate at zero on September 24th, while revising inflation forecasts upwards across a three-year horizon.
The quarterly assessment puts average inflation at 0.7% for 2026, up from 0.6% previously forecasted three months ago.
SNB Chairman Martin Schlegel attributes most of the rise in inflation to energy prices, while Vice Chairman Antoine Martin notes that even as policymakers call the increase slight, inflation is likely to stay elevated for some time.