SNB Tschudin: Swiss inflation is low because of low inflation expectations
USD/CHF — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Rabobank | Bullish | 0.75 |
ING | Bullish | 0.77 |
MUFG | Bullish | 0.76 |
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SNB Governing Board member Petra Tschudin is commenting on the inflation and interest-rate outlook, with the central bank keeping the door open to negative rates if needed. At the same time, she cautions against interpreting the SNB’s inflation forecasts as a signal that rates wi
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4 itemsSNB policymaker Tschudin says medium-term inflation pressures are unchanged
Benign inflation keeps Swiss National Bank on hold
Despite prevailing benign inflationary trends, the Swiss National Bank (SNB) has opted to maintain its policy rate at 0%, reflecting a cautious yet stable monetary stance. As highlighted in the analysis, inflation in Switzerland remains comfortably within the SNB's target range of 0–2%, with recent data showing only a 0.6% year-on-year increase in May. The desk interprets this as an indication that the SNB has no immediate justification for altering its policy stance, a sentiment echoed by the source commentary [source]. This aligns with broader consensus views that foresee minimal shifts in policy in the coming quarters, with no significant market events expected to disrupt the current equilibrium.
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