UBS Group CEO Sergio Ermotti attended the annual meetings of the International Monetary Fund and the World Bank in Washington, DC on October 12. 23, 2024.
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UBS Chief Executive Sergio Ermotti warned on Tuesday of expected interest rate declines if expected tariffs from Donald Trump’s second White House seep into markets and drive up inflation. May stall.
“I’ve been saying for a while that inflation is more troublesome than we’ve let on,” he told CNBC’s Andrew Ross Sorkin. “The (truth of the matter) is we still need to look at How tariffs will play into inflation.”
“Tariffs probably won’t really help inflation come down. So I don’t think interest rates are going to come down as fast as people think,” he said.
This breaking news story is being updated.
