2023-12-18 08:55:05
The CEO of the Swiss bank UBS, Sergio Ermotti, questioned the narrative that central banks have already managed to control inflation, and that they will soon begin to ease their policies.
“One thing I have learned is that one should not try to make predictions about the coming months – it is almost impossible,” Ermotti told the Swiss newspaper Le Matin Dimanche on Sunday.
He added that during the current stage he is still not convinced that inflation is “really under control,” however, he stressed that the trend “seems favourable” but it must be seen whether it continues.
He continued that if inflation approaches the 2% target in all major economies, central bank policies may ease slightly, adding: “In this environment, it is very important to remain flexible.”
Last week, central banks held interest rates in the United States, the eurozone and Britain on hold, and the Federal Reserve hinted at starting to cut rates next year.
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