Martin Warns of Elevated Inflation Amid Global Growth

The Swiss National Bank's Vice Chairman Antoine Martin spoke at a press conference following their September monetary policy assessment. During the meeting, they left interest rates unchanged at 0%. Martin highlighted that global economic growth was stronger than expected in the second quarter and expects moderate growth over the coming quarters.

Consumer spending showed resilience despite a decline in purchasing power, with ongoing improvements in manufacturing momentum also supporting growth. However, there are concerns about energy prices potentially being significantly higher than anticipated.

Martin emphasized that uncertainty remains high due to the situation in the Middle East and warned that inflation is likely to remain elevated for some time.