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SNB’s Maechler: Rising rates was intended to send a clear signal on inflation

Comments from the SNB policymaker

  • Declines to comment on further interest rate moves
  • We see a weakening in the Swiss economy but no recession
  • Acting now to make sure inflation doesn’t become entrenched
  • Recent rise in franc helped dampen inflation

The SNB is expected to rise 50 or 75 bps at the next meeting.

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