Switzerland’s New Inflation Forecast Supports Another SNB Hike
- Swiss government sees consumer-price growth of 2.3% this year
- Central bank meets for interest rate decision next week
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Switzerland’s government expects inflation to be above the central bank’s target this year — a forecast which reinforces a likely interest-rate hike next week.
The State Secretariat for Economic Affairs said consumer prices will rise 2.3% this year. That down from 2022’s 2.8%, and also slightly lower than a March prediction of 2.4%. SECO, which draws up economic projections for the government, maintained its 1.5% estimate for 2024.