Swiss National Bank Chairman Martin Schlegel said on Wednesday that inflationary pressures have intensified, with the October reading exceeding expectations. He added that the central bank will not hesitate to adjust monetary policy if price stability is threatened.
Key quotes
Inflation in Switzerland climbed, October figure exceeded expectations.
No major second-round effects so far, but can’t be excluded later.
Central bank won’t hesitate to modify policy if price stability is endangered.
Central bank will monitor situation closely, especially for second-round inflation effects.
Market reaction
The Swiss Franc showed no immediate reaction to Chairman Schlegel’s comments. At press time, USD/CHF was down 0.53%, trading around 0.8165.
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