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Central BanksMediumUpdated•Originally published 4 November 2026•Updated 5 November 2026•
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SNB Chairman Schlegel Signals Readiness to Adjust Policy for Price Stability

Key Facts

1SNB Chairman Martin Schlegel stated the bank will not hesitate to modify policy if price stability is endangered.
2Schlegel noted increased inflationary pressures after October figures exceeded expectations.

SNB Chairman Martin Schlegel stated the bank will not hesitate to modify its monetary policy if price stability is endangered. FXStreet reported that Schlegel noted increased inflationary pressures, signaling a readiness to adjust policy to maintain stability.

The verbal intervention follows data from November 3, 2026, showing the Swiss annual inflation rate rose to 1.5%, surpassing the 1.3% market forecast. This coincides with the procure.ch Manufacturing PMI reaching 56.7 on November 2, 2026, even as annual retail sales growth slowed to 1.6% on the same day.

Latest Updates · 1

  1. Notable·

    Update: Economists have raised expectations for a rate hike from the current 0% level at the SNB's meeting scheduled for December 10, 2026. This shift follows reports that October inflation data exceeded the central bank's own internal forecasts.