Swiss inflation remained static at 1.7% in October, according to data published on Thursday, strengthening the view among analysts the Swiss National Bank will keep interest rates on hold next month.

The October reading was the fifth month in a row that Swiss inflation has been within the SNB's target range of 0-2%, after a period of unusually high price rises.

Now the latest inflation data has made economists think the central bank is finished with rate increases after raising rates to 1.75% before pausing at its last meeting in September.

"The data shows that inflation is not a major problem and roughly evolving as expected," said Karsten Junius, chief economist at J.Safra Sarasin.

The slowdown of the economy as shown by the weak manufacturing data and low consumer confidence this week was more of a concern than inflation, he added.

"The combination of stable or low inflation rates and a decelerating economy confirms that a rate hike in September would have been a mistake and that there is also clearly no reason for a rate hike in December," Junius said.

SNB Chairman Thomas Jordan said on Wednesday the central bank was weighing several uncertainties before making its next decision, although he would not hesitate to raise rates again if necessary.

The central bank is due to announce its next rates decision on Dec. 14.

UBS economist Maxime Botteron said November's inflation reading would more of an influence on the central bank than October as this would include the impact of rising rents in Switzerland.

"Depending on the increase in housing rents, there is a risk for inflation to reach or even exceed 2% by the end of the year," Botteron said.

"The SNB must find the right balance between the downside risks to growth and inflationary risks. We therefore expect the SNB to maintain its policy rate unchanged at its December meeting." (Reporting by John Revill; Editing by Chizu Nomiyama)