- SNB’s Jordan: Swiss inflation has peaked and will decline next year
Market news
SNB’s Jordan: Swiss inflation has peaked and will decline next year
The Swiss National Bank (SNB) Chairman Thomas Jordan said that he believes the Swiss inflation has peaked and will decline next year while speaking at the post-monetary policy meeting press conference on Thursday.
Read: SNB leaves the key sight deposit rate on hold at -0.75%
Additional headlines
Forecast Swiss inflation remains within range for price stability.
Effect of Swiss franc nominal appreciation is reduced by higher inflation abroad.
The real trade-weighted exchange rate of Swiss franc has hardly changed since start of pandemic.
Nominal appreciation of Swiss franc has countered rising inflation in Switzerland.
Aware that uncertainty can lead to demand for franc.
SNB will continue to monitor Swiss franc exchange rate and react as necessary.
Market reaction
USD/CHF was last seen trading at 0.9223 amid unabated US dollar supply across the board, as markets reposition ahead of the BOE and ECB policy decision. The spot is down 0.27% on the day, as of writing.
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