Monetary policy New SNB Chairman considers geopolitical risks to be very high

On Tuesday evening, Martin Schlegel made his first appearance in his new role as Chairman of the Swiss National Bank (SNB) in Ticino. During a speech in Bellinzona, Schlegel also took a look at the global economic situation.

"The geopolitical risks are very high," said Schlegel during a visit to the Cantonal Bank of Ticino in Bellinzona. The SNB therefore expects "subdued economic growth" in the coming quarters.

Overall, the SNB expects GDP growth of 1 percent in the current year. This figure is lower than the long-term average, explained Schlegel.

As Christian Vitta, Head of the Ticino Department of Finance and Economic Affairs, pointed out in his introduction, Martin Schlegel had already been invited to Ticino before his appointment as the new SNB Chairman. The fact that he is now here in his new role fills the entire canton of Ticino with "great pride".

SDA