2023-05-10 17:52:24
“Current monetary policy is not yet sufficiently restrictive,” said Thomas Jordan during a conference at the University of Graubünden.
The boss of the Swiss National Bank (SNB), Thomas Jordan, repeated on Wednesday that he might not rule out a further hike in the key rate. The current monetary policy is not yet sufficiently restrictive, he indicated during a conference at the University of Graubünden, according to the Archyde.com agency.
Mr. Jordan pointed out that inflation, which stood at 2.6% in April, was still above the SNB’s price stability target which is defined between 0% and 2%.
In March, the issuing institution raised its key rate by 50 basis points to bring it from 1.0% to 1.5%, carrying out a fourth monetary tightening since June 2022. The SNB did not then rule out “that further rate hikes are needed to ensure price stability over the medium term”.
The next monetary policy announcement from the Swiss central bank is due on June 22.
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