Swiss National Bank's Martin: Inflation likely to remain elevated for some time

Dhwani Mehta FXStreet

Swiss National Bank (SNB) Vice Chairman Antoine Martin is addressing the press conference following the September monetary policy assessment, in which the central bank held interest rates unchanged at 0%.

Key quotes

Global economic growth stronger than expected in second quarter.

Anticipate moderate growth in global economy over the coming quarters.

Consumer spending barely slowed despite loss of purchasing power.

Ongoing improvement in manufacturing momentum will support growth.

Energy prices could turn out to be significantly higher than expected.

High uncertainty remains, mainly because of situation in the Middle East.

Inflation likely to remain elevated for some time.

90% backing of foreign units with CET-1 is a good amount, but 100% would have been even better.

Market reaction

At the press time, the Swiss Franc (CHF) is losing ground against the US Dollar (USD), with USD/CHF trading 0.28% higher on the day at 0.8270.

Swiss Franc Price Today

The table below shows the percentage change of Swiss Franc (CHF) against listed major currencies today. Swiss Franc was the weakest against the New Zealand Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.03%	-0.02%	0.01%	0.06%	-0.02%	0.22%
EUR	0.05%		0.02%	0.04%	0.03%	0.12%	0.02%	0.26%
GBP	0.03%	-0.02%		0.02%	0.01%	0.08%	0.00%	0.24%
JPY	0.02%	-0.04%	-0.02%		-0.01%	0.07%	-0.05%	0.21%
CAD	-0.01%	-0.03%	-0.01%	0.00%		0.07%	-0.05%	0.21%
AUD	-0.06%	-0.12%	-0.08%	-0.07%	-0.07%		-0.10%	0.15%
NZD	0.02%	-0.02%	0.00%	0.05%	0.05%	0.10%		0.28%
CHF	-0.22%	-0.26%	-0.24%	-0.21%	-0.21%	-0.15%	-0.28%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Swiss Franc from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent CHF (base)/USD (quote).

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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