SNB's Tschudin says in short terms we see that inflation will rise somewhat; over the medium term, this will ease; we underlined last week that our readiness to intervene in the FX market is higher

The SNB's Tschudin signals a near-term uptick in inflation but expects it to moderate over the medium term, suggesting a nuanced view on inflationary pressures. The mention of increased readiness to intervene in the FX market hints at a proactive stance to safeguard the Swiss franc, which could lead to volatility in currency markets and impact fixed income across the region.