Swiss National Bank Chairman Thomas Jordan said on State TV on Monday that he sees no sign of a Swiss wage-price spiral and that inflation is more or less at its peak and will recede. The strength of the Swiss franc limits Swiss inflation, he added, but remarked that stubbornly high inflation above 2.0% elsewhere in the world would lead to policy tightening. Finally, Jordan said that the Swiss franc had remained stable in real terms. 

Market Reaction

The Swiss franc was unreactive to Jordan's latest remarks, which stuck to the bank's usual script.