SNB vice-chairman says further rate hikes may be needed
© Reuters. FILE PHOTO: The building of the Swiss National Bank is seen in Zurich, September 22, 2022. REUTERS/Arnd Wiegmann
"It cannot be ruled out that further tightening of monetary policy may be necessary," Schlegel was quoted as saying."This depends on how inflation develops." The Swiss franc hit its strongest level since 2015 against the euro last Friday, on the back of investor risk aversion due to the war in the Middle East, as well as broad weakness in the euro.
Schlegel added that the central bank was drawing lessons from the government's move to back a rescue deal for Credit Suisse in March, which rattled the Swiss banking sector and caused wider market panic.
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SNB vice-chairman says further rate hikes may be neededThe 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.
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