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UBS CEO says he’s not satisfied that inflation is basically beneath management

The chief govt of Swiss banking big UBS, Sergio Ermotti, has weighed in together with his evaluation on inflation:

  • “One thing I’ve learned is that one must not try to make predictions on the coming months – it’s nearly impossible. That said, at this stage I am still not convinced that inflation is really under control”
  • “The trend seems favourable but we must see if it continues. If inflation approaches the 2% targets in all major economies, central banks’ policies could loosen a bit. In this environment, it is very important to remain agile”

He was talking in an interview over the weekend with Swiss newspaper Le Matin Dimanche.

As head of a world banking big a lot of his job entails making predictions I(after which implementing coverage for the financial institution in response to them), and overseeing those that do (merchants, for instance), so his “not try to make predictions on the coming months” looks like a peculiar assertion.

Final week Federal Reserve Chair Powell bought all optimistic and flagged simpler coverage quickly to return from the FOMC.

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