Swiss National Bank signals readiness to use unconventional tools as inflation remains low
Chairman Martin Schlegel noted that 0.1 percent inflation and 0 percent rates create a difficult policy environment, prompting a focus on potential interventions.
martin schlegel, Chairman of the Swiss National Bank, stated today that the current economic environment in Switzerland 
CHis presenting challenges for monetary policy as inflation has reached 0.1 percent. Speaking on February 2, 2026, martin schlegel explained that with interest rates currently at 0 percent, the combination of very low price growth and the zero bound for interest rates makes the situation not an easy situation for monetary policy. The bank defines price stability as inflation within a range of 0 percent to 2 percent, meaning the current level is at the very bottom of the target range.
CHis presenting challenges for monetary policy as inflation has reached 0.1 percent. Speaking on February 2, 2026, martin schlegel explained that with interest rates currently at 0 percent, the combination of very low price growth and the zero bound for interest rates makes the situation not an easy situation for monetary policy. The bank defines price stability as inflation within a range of 0 percent to 2 percent, meaning the current level is at the very bottom of the target range.
