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  • Swiss inflation held at 0.2% for the third straight month; it will remain stuck near zero until Q2 2026. 
  • The SNB has said it will ignore negative inflation prints in the near term… 
  • ...We expect the next rate move to be up, in 2027, despite downside risks to our inflation forecasts.

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Keywords for: 3 October 2025 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence