Swiss National Bank (SNB) Chairman Martin Schlegel stated during the European trading session on Friday that inflation in Switzerland has accelerated in recent months but remains within the SNB's defined price stability range, which is a rise in the Swiss Consumer Price Index (CPI) of less than 2% per year [1]. Schlegel highlighted that the Swiss Franc exchange rate has posed challenges for the Swiss economy, though he emphasized that the real Franc has remained stable since 2020 [1].
Schlegel also pointed out that high energy prices present a risk of further price increases in other sectors of the economy [1]. In addition, he expressed support for the UBS capital proposals put forth by the Swiss government, noting that these measures address issues stemming from the Credit Suisse crisis [1].
Despite these remarks, there was no immediate market reaction to Schlegel's comments. At the time of reporting, the USD/CHF currency pair was trading 0.3% higher at approximately 0.8155, indicating that the Swiss Franc did not experience significant movement in response to the SNB Chairman's statements [1].
No forward-looking statements or analyst opinions were provided in the article. The SNB's next monetary policy assessment is scheduled for one of its regular quarterly meetings, but no specific date or forecast was mentioned [1].
CONCLUSION
SNB Chairman Schlegel acknowledged recent inflation acceleration but reaffirmed that it remains within the central bank's stability range. The Swiss Franc showed no significant reaction to his comments, and no immediate policy changes or market impacts were observed.