- Swiss inflation remains too high
- Further rate hikes may be necessary to ensure price stability in the medium-term
- Really important to make overall assessment with the figures we will have in Dec
Well, so long as inflation continues to keep above their 2% target and looks likely to sustain higher, the SNB can still get away with tightening policy a little further. But as markets voted yesterday, it is clear that central banks are in the second-half of the tightening cycle and may be approaching the sunset days on that.