The Swiss National Bank may need to tighten its monetary policy further depending on how inflation develops in the country, according to Vice-Chairman Martin Schlegel. Despite inflation easing to 1.6% in August, Schlegel stated that further tightening may be necessary. Economists, however, believe that the SNB has already completed interest rate hikes. The Swiss franc has reached its strongest level against the euro since 2015, which poses challenges for export companies in economically uncertain times.
Iconic Wines, Local Food: A Fox Harb'r Dining Experience with Bram Bolwijn | SaltWireGENEVA - The Swiss National Bank may need to tighten its monetary policy further depending on how inflation develops in the country, Vice-Chairman Martin Schlegel said in an interview published on Saturday in Swiss newspaper SonntagsBlick.
The vast majority of economists polled by Reuters last month, however, said that the SNB was done with interest rate hikes. "Our country is perceived as so stable that our currency appreciates in times of crisis," Schlegel said.
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