SNB Chair Jordan says SNB ready to intervene to prevent excessive weakening or strengthening of the CHF; recent apprecition has helped dampen inflation
FX
- SNB ready to intervene to prevent excessive weakening or strengthening of the CHF.
- If there were to be an excessive appreciation of the Swiss franc, we would purchase foreign currency. If the Swiss franc were to weaken, however, we would consider selling foreign currency.
- Recent apprecition has helped dampen inflation
RATES:
- Negative rates will remain an important instrument, will be used if necessary.
- Further rate hikes cannot be ruled out
- Reiterates SNB can do interim rate decisions if needed.
INFLATION:
- Without rate increases, inflation would have been significantly higher
- Growing signs that inflation is spreading to goods and services not affected by the Ukraine War.
Full release here
22 Sep 2022 - 09:00- Important- Source: Newswires
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