Too soon for SNB to increase rates, board member says

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The Swiss National Bank is unlikely to increase rates soon because inflation remains low and the Swiss franc remains strong, board member Andréa Maechler said on November 8.

In a speech in Geneva, Maechler  noted “some central banks have started to gradually tighten their monetary policy”. But she said that for the SNB “it is still too early to contemplate taking such action”.

Switzerland has recorded solid economic growth since early 2017, and the unemployment rate was 4.6% in the second

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