SNB’s Jordan: Absolute priority should be to bring inflation down to price stability level

Dhwani Mehta FXStreet

Swiss National Bank (SNB) Chairman Thomas Jordan said in a scheduled speech on Friday, “absolute priority should be to bring inflation down to price stability level.”

Additional quotes

“We should not underestimate second-round effects of inflation.”

“Firms are not hesitating to increase prices, not easy to bring inflation back to 2%.”

“Once inflation is high, pressure from wages is here.”

“Negative rates were abstolutely essential, happy we are out of this era.”

“Wouldn't hesitate to go back to negative interest rates again to deal with negative inflation.”

“Balance sheet is result of monetary policy, had to expand it because exchange rate was too strong.”

“Now able to sell some of forex reserves again.”

“Composition of balance sheet made a lot of sense, we will continue with our investment strategy.”

Market reaction

USD/CHF was last seen trading 0.19% higher on the day at 0.9177.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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