UBS CEO Sergio Ermotti on the annual conferences of the IMF and the World Financial institution in Washington, October. 23, 2024
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The anticipated decline in rates of interest might be halted if future tariffs from Donald Trump’s second White Home administration trickle by means of markets and bolster inflation, UBS Chief Government Sergio Ermotti warned on Tuesday.
“One thing I have been saying for some time is inflation is much more risky than we’re saying,” he advised CNBC’s Andrew Ross Sorkin. “The [truth] the purpose is that we additionally have to see how tariffs will play a task in inflation.”
“Tariffs in all probability will not actually assist inflation come down.” And so I do not see charges coming down as quick as folks consider, he mentioned.
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