The Swiss National Bank held its policy rate at 0% as expected and signaled a
near-term rate hike is unlikely, prompting a decline in the Swiss franc (CHF).
The SNB said medium-term inflationary pressures have risen only slightly and
that its current policy stance is appropriate to keep inflation within a
price-stability range while supporting growth. It expects Swiss inflation to
rise in Q4 before declining through 2027, but warned uncertainty is high. The
bank said recent franc weakness is not a concern and is supportive of growth.
