However, future increases cannot be ruled out if necessary, the SNB said.
In Switzerland, five consecutive interest rate hikes totalling 250 basis points have helped drive inflation down from last year’s peak of 3.5% and keep it within the central bank’s 0%-2% target for the past three months.
In recent months, inflation has continued to slow in Switzerland. In August, it stood at 1.6%. The decline is mainly due to a decline in the price of imported goods and services.
The SNB says it remains ready to be active on the foreign exchange market to ensure appropriate monetary conditions. In the current context, this mainly concerns the sale of currencies.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
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