Swiss inflation rises above target
Oil prices contribute to inflation that is now above the SNB’s forecasts
Inflation in Switzerland rose further in March, hitting 2.4%, the country’s official statistical agency said on April 1.
This is both over the Swiss National Bank (SNB) target of 2% and higher than the central bank’s latest forecasts. In its monetary policy assessment published on March 24, the SNB expected inflation to increase by 2.1% in 2022, declining to just 0.9% in 2023 and 2024.
Partly as a result of these forecasts, the SNB left its accommodative forward guidance unchanged, and kept
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