Finance
Swiss National Bank May Need to Raise Rates, Schlegel Says
- Whether it’s necessary depends on evolution of inflation
- Vice president defends SNB’s actions regarding Credit Suisse
The Swiss National Bank (SNB) office in Zurich.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
The Swiss National Bank’s vice president told newspaper SonntagsBlick that further rate increases may be needed, depending on the rate of inflation.
“Overall, the labor market is still in very good shape,” Martin Schlegel said in an interview. “Unemployment is still low. It cannot be ruled out that further tightening of monetary policy may be necessary. This depends on the development of inflation.”