Inflation and interest rates likely to climb

Wednesday, 20 September 2023 06:30

Economists believe inflation will break through the target set by the Swiss National Bank and interest rates will have to rise again.

The OECD says inflation will hit 2.4% - the bank’s target is no more than 2%. But the organisation also predicts it will fall back to 1.2% next year.

The national bank is due to announce its interest rate decision tomorrow and its widely expected a to raise rates a quarter of a percent at 2%.

But the OECD says the economy should grow by more than half a percent this year and 1.2% next.

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