SNB chairman Schlegel: Inflationary pressure has decreased markedly over the medium term

December 12, 2024
-FCHFX

December 12, 2024 at 09:01AM

Without today’s rate cut, inflation forecast would have been lower

Will continue to monitor inflationary pressures

And will adjust monetary policy if necessary to maintain price stability

Remains willing to intervene in FX market as necessary

Rate cuts will continue to be the main instrument if monetary policy needs to be eased further

Developments abroad are the main risk to the Swiss economy

Political uncertainty in Europe has risen

Future course of US economic policy is uncertain

Development of the Swiss franc is still an important factor to be wary about

Given the fact that they lowered their inflation forecasts, it will be crucial to watch how the Swiss franc performs going into next year. The last thing the SNB would want is to invite deflationary pressures again. That especially since the Covid pandemic gave them a get out of jail free card, much like it did for Japan.

This article was written by Justin Low at www.forexlive.com.

SNB chairman Schlegel: Inflationary pressure has decreased markedly over the medium term

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