( MENAFN - Live Mint) (Bloomberg) -- The Swiss National Bank may have to lower borrowing costs again as inflation slows, according to President Martin Schlegel. "Over the next quarters, further rate cuts can become necessary to ensure price stability in the medium term," he said in Cham on Tuesday."The SNB now focuses on normalizing monetary policy and on ensuring that it doesn't become too restrictive." The central bank has cut interest rates at all three of this year's meetings and is expected to do so again at the final policy decision of the year in December. Inflation has been continuously slowing and was at just 0.8% in September, with some economists now worrying it might undershoot the SNB's target range of 0% to 2%. The October reading - due on Friday - will probably match that of the previous month. The slowdown in consumer-price growth has been aided by the franc as it's been appreciating since May - a move that helps suppress Swiss inflation by making imports cheaper.