A Swiss National Bank logo is pictured on the SNB building in Bern, Switzerland May 20, 2020.
The Swiss National Bank ended its streak of five consecutive increases, keeping interest rates unchanged at its quarterly monetary policy meeting on Thursday.
"The significant tightening of monetary policy over recent quarters is countering remaining inflationary pressure," the SNB said in a statement.
At its previous meeting in June, the central bank opted for a 25 basis point increase, after increments of as much as 75 basis points previously.
"Over the medium term, however, it should return to more moderate levels, not least due to more restrictive monetary policy," the central bank said.
Organizations:
Swiss National Bank, Swiss
Locations:
Bern, Switzerland, Swiss, Europe