Inflation in Switzerland is expected to rise above 2 pct in the first half of 2008, fuelled by high oil prices, before easing, Swiss National Bank board member Thomas Jordan said in a speech on what 2008 could bring to monetary policies and financial markets. In December, the SNB said it expects 2008 inflation to reach 1.7 pct, with inflation spiking in the first half before slowing down. The central bank then also saw GDP as growing by 2 pct for the year, but Jordan warned that the forecast may have been too optimistic. "Risks have increased recently. As a result, the prognosis from December, which forecasted a growth of 2 pct for 2008, may yet turn out to be too optimistic in a markedly slowing world economy," he said. Despite the ongoing high volatility in the stock markets, however, Jordan said the SNB sees no need to take additional action, adding that there would be an opportunity in March for the central bank to re-assess the inflation and economic outlook with the latest data.