Swiss National Bank

The Swiss National Bank (SNB) acknowledges a recent rise in inflation driven by higher energy prices but maintains that medium-term inflationary pressures remain stable. The SNB's current monetary policy is deemed appropriate to ensure price stability while supporting economic growth, with a commitment to adjust policies as necessary.

• Inflation has increased from 0.1% in February to 0.6% in May, primarily due to higher energy prices.
• The SNB forecasts inflation to remain within the price stability range, averaging 0.6% for 2026 and 0.7% for 2028.
• Global economic growth is expected to moderate in the short term due to geopolitical tensions and rising energy prices, but may recover in the medium term.
• The SNB will continue to monitor economic conditions and adjust its policy if inflationary pressures change significantly.

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