Core Viewpoint - Swiss inflation unexpectedly slowed to near zero levels, putting pressure on the central bank to address the strong Swiss franc and stimulate price growth [1] Economic Data Summary - October CPI rose by 0.1% year-on-year, down from 0.2% in the previous month and below the market expectation of 0.3% [1] - Core inflation also unexpectedly slowed from 0.7% to 0.5% last month [1] Central Bank Challenges - The strong Swiss franc, bolstered by its status as a safe-haven currency, has reached levels close to a decade high, potentially suppressing inflation by lowering import costs [1] - The Swiss National Bank (SNB) faces a complex task as price growth has not rebounded from the lower limit of the 0-2% target range, complicating policy decisions amid a strong franc [1] Policy Options - The SNB may consider foreign exchange interventions, which would expand its balance sheet and could provoke a negative response from the U.S. [1] - Alternatively, the SNB could implement negative interest rate policies, which may harm the financial system [1]