Posted 10/28/2023, 8:05:00 PM
SNB Vice-Chairman: Further Policy Tightening Possible if Inflation Persists, Despite Recent Easing
- SNB may need to tighten monetary policy further depending on inflation developments, says Vice-Chairman Schlegel
- SNB held policy rate at 1.75% last month, noting easing inflation
- Schlegel says growth likely subdued in 2023, unemployment expected to rise slightly
- Strong Swiss franc appreciation makes exports more difficult
- Schlegel says AT1 bonds should have been loss-making for Credit Suisse sooner