Swiss National Bank

The Swiss National Bank's monetary policy assessment indicates a slight increase in short-term inflation forecasts due to rising energy prices, while medium-term inflationary pressures remain stable. The SNB emphasizes its commitment to maintaining price stability and will adjust its policy as necessary in response to evolving economic conditions.

• Short-term inflation forecast has risen due to increased energy prices, while medium-term inflation remains stable.
• The SNB expects average annual inflation of 0.5% for 2026 and 2027, and 0.6% for 2028, assuming a policy rate of 0%.
• Global economic growth is solid but faces uncertainty due to the conflict in the Middle East, which may impact energy prices and economic growth.
• Swiss GDP growth is expected to be around 1% for 2026, with risks primarily stemming from global economic developments.

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