Since March, the Swiss National Bank (SNB) has cut the benchmark rate three consecutive times by 0.25 percentage points, bringing it down from 1.75% to 1.0%. The normalization of rates was justified by the continued easing of price pressures. Inflationary momentum has significantly slowed even before the latest meeting, benefiting notably from the renewed strength of the Swiss franc in recent months, which has also contributed to moderate growth in the Swiss economy. In the medium term, the SNB expects an inflation rate below 1% and confirms that downside risks are more likely than an upward trend in inflation.
The SNB has not yet finished.