**As seen in Risk In The Week report 11/01/25, get full access now! The RBA decided to keep the cash rate target unchanged at 3.60%. This marks the third consecutive hold since the last rate cut in August 2025, reflecting the Bank's cautious approach amid persistent inflationary pressures. The RBA cited stronger-than-expected quarterly inflation data released in late October 2025, with its preferred core inflation measure (trimmed mean) rising 1.0%—well above the forecasted 0

**As seen in Risk In The Week report 11/01/25, get full access now! Swiss consumer prices remain subdued, the September figure came in steady at 0.2% Y/y. This marks the continuation of a disinflation trend, with headline inflation well within the Swiss National Bank's (SNB) 0-2% target range. The core metric rose 0.7% Y/y, which is within the recent monthly readings. Switzerland's inflation has decelerated rapidly from a 2022 peak of 3.5%, thanks to the SNB's aggressive rate

**As seen in Risk In The Week report 11/01/25, get full access now! The manufacturing index printed at 49.1, up from 48.7 in August, but still below 50 for the seventh straight month of contraction. The services gauge came in at 50.0, unchanged from August, marking stagnation after prior expansions. The uptick in manufacturing suggests a modest stabilization in factory activity amid softer demand, but ongoing contraction raises recession risks for manufacturing (only ~10% of

**As seen in Risk In The Week report 11/01/25, get full access now! Read the Risk In The Week to get briefed on this week's main events