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- Fixed IncomeImportant- Source: Newswires