Swiss National Bank Chairman Thomas Jordan told Swiss broadcaster SRF on Monday that we have to take inflation developments seriously, and that while some of this inflation is certainly temporary, all central banks have to be careful it doesn't become permanent. Jordan reiterated that inflation is expected to come down and noted that, in the medium and long-term, monetary policy must ensure that inflation is always within the price stability range. 

On the Fed moving towards tightening, Jordan noted that the Fed raising rates is a good sign for the US economy and shows that it is working at capacity. Moreover, the Fed raising rates means that interest rates around the world are going up a little, which is a positive for us (Switzerland). 

Market Reaction

CHF has not reacted to the latest remarks from SNB Chair Jordan.