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  • Swiss inflation is now at the bottom end of the SNB’s 0-to-2% inflation target range.
  •  It will likely fall further in the near term, to a trough of -0.2% or so, before rising gradually.
  • The SNB will ignore sub-zero inflation; it is focused on inflation in the medium term. SNB easing is over.  

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Keywords for: 4 December 2025 Eurozone Monitor SNB to stand pat next week despite fall in infl

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