Swiss National Bank governing board member Petra Tschudin said artificial intelligence can push inflation higher in the short term, though the overall effect remains unclear. In an interview with Finanz und Wirtschaft, she said investment flows are being partly redirected, which can cause shortages such as in chips and drive prices up. Longer term, AI could lower prices by boosting productivity, but she questioned whether such declines would repeat regularly enough to cause structural deflation. The SNB's latest forecast sees inflation within its 0% to 2% target range through the first quarter of 2029, but Tschudin stressed this is not an interest rate forecast and policy will adjust if new inflation information emerges.
