ZURICH (Reuters) -Swiss inflation is likely to rise slightly in the coming quarters, Swiss National Bank Chairman Martin Schlegel said on Wednesday, with economic indicators pointing to stable situation with moderate growth.

“Uncertainty remains high. With the announced but currently suspended U.S. tariffs on certain pharmaceutical products, the downside risks could increase somewhat,” Schlegel said, according to slides prepared for an SNB event in Belp, central Switzerland.

The SNB will continue to monitor the situation and adjust its monetary policy if necessary to ensure price stability in the medium term, the slides said.

(Reporting by John Revill and Miranda Murray)

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