In the Asian market on Monday (June 12), USD/CHF rose, temporarily reporting 0.9036, an increase of 0.05%. Swiss National Bank President Jordan said on Sunday that the bank is ready to raise interest rates again as the battle against inflation continues. Data last week showed Swiss inflation fell to an annual rate of 2.2 percent in May, but has remained above the central bank‘s target range of 0.0-2.0 percent since last February.
The latest developments from the Swiss National Bank:
Data last week showed Swiss inflation fell to an annual rate of 2.2 percent in May, but has remained above the central bank’s target range of 0.0-2.0 percent since last February. Jordan said that the battle for inflation is not over, they must ensure that the inflation rate continues to return to below 2%. At this stage, further tightening of monetary policy cannot be ruled out. Inflation is still too high and is triggering relatively widespread price increases. He said that although the central bank’s previous interest rate hikes have led to rising rents and exacerbated inflationary pressures, the central bank will take this into consideration and will not suspend the fight against inflation. Jordan said, if you hold off on this, inflation will only rise faster, and they will have to raise interest rates more aggressively, and there will be a lag in the impact of interest rate hikes, which will be a bigger problem for tenants.
