Swiss National Bank

Swiss National Bank chairman Martin Schlegel said the central bank is in a comfortable position regarding inflation, according to remarks he made to Swiss broadcaster SRF. The comments suggest policymakers see current price pressures as broadly under control, offering little urgency for immediate changes in monetary policy.

The Swiss National Bank is tracking how summer heat is affecting food prices, with hot weather potentially reducing crop yields and pushing up grocery inflation. The development matters because food costs feed directly into Switzerland's inflation outlook, which the central bank weighs when setting interest rate policy. No further details on the bank's assessment were given.