SNB’s Jordan: Swiss inflation has peaked and will decline next year

The Swiss National Bank (SNB) Chairman Thomas Jordan said that he believes the Swiss inflation has peaked and will decline next year while speaking at the post-monetary policy meeting press conference on Thursday.

Additional headlines

Forecast Swiss inflation remains within range for price stability.

Effect of Swiss franc nominal appreciation is reduced by higher inflation abroad.

The real trade-weighted exchange rate of Swiss franc has hardly changed since start of pandemic.

Nominal appreciation of Swiss franc has countered rising inflation in Switzerland.

Aware that uncertainty can lead to demand for franc.

SNB will continue to monitor Swiss franc exchange rate and react as necessary.