SNB's Schlegel: Inflation Accelerates, But Franc Remains Stable
SNB Chairman Martin Schlegel addressed concerns about the Swiss Franc exchange rate during a European trading session on Friday. The SNB has faced challenges in maintaining a stable exchange rate, but Schlegel stated that the real Franc has been stable since 2020.
Inflation has accelerated in recent months, but remains within the price stability range of less than 2% per year, according to the Swiss Consumer Price Index (CPI). Schlegel noted that high energy prices pose a risk of higher prices elsewhere.
The SNB supports the UBS capital proposals put forth by the Swiss government, which aim to address issues related to the Credit Suisse crisis. The proposals are seen as a crucial step in stabilizing the financial sector and maintaining economic stability.