SNB Chair Jordan says SNB ready to intervene to prevent excessive weakening or strengthening of the CHF; recent apprecition has helped dampen inflation
- 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
- 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.
- 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
Subscribe Now to Newsquawk
Click here for a 1 week free trial
Newsquawk provides audio news and commentary for over 15,000professional traders and brokers worldwide. Services include:
- Real-time audio coverage from 0630 to 2200 London time plus Asia-Pac 2200 to 1000 London time
- Teams of analysts covering equities, fixed income, FX, energy, and metals markets
- Real-time scrolling news service with instant analysis
- Daily and weekly pre-market research and calendars
- Video updates covering near-term key risk events & primary trading themes
- One-to-one chat with our expert analysts