Swiss National Bank holds interest rate at 0%

 The Swiss National Bank (SNB) announced on Thursday its decision to keep its policy rate unchanged at 0%.

"Inflation has risen further since June, primarily due to higher energy prices. Medium-term inflationary pressure has increased only slightly. Monetary policy is appropriate to keep inflation within the range consistent with price stability and supports economic development," the bank said in its statement.

Furthermore, the SNB predicted that the annual inflation rate in Switzerland will stand at 0.7% in 2026, 0.8% in 2027, and 0.8% in 2028. It also estimated that the country's gross domestic product (GDP) will expand by between 1.5% and 2% and by around 1.5% in 2027.

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