The Swiss National Bank kept its policy rate at 0% for a fifth consecutive quarterly meeting, raised its inflation outlook and removed prior language signaling an increased willingness to intervene to weaken the franc. Officials led by Schlegel said mid‑term price pressures have risen "only slightly" and implicitly acknowledged the franc’s sharp drop below pre‑Middle East conflict levels, which has raised import costs and boosted inflation. The decision, supported by August inflation of 0.8%, un

The Swiss National Bank kept its policy rate at 0% for a fifth consecutive quarterly meeting, raised its inflation outlook and removed prior language signaling an increased willingness to intervene to weaken the franc. Officials led by Schlegel said mid‑term price pressures have risen "only slightly" and implicitly acknowledged the franc’s sharp drop below pre‑Middle East conflict levels, which has raised import costs and boosted inflation. The decision, supported by August inflation of 0.8%, underscores policy divergence as the US and euro area tighten while Switzerland maintains ultra‑low borrowing costs; the SNB signalled a partially more cautious stance after the franc hit a 17‑month low versus the euro and its weakest level versus the dollar since June last year.