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ZURICH, Sept 26 (Reuters) – The Swiss National Bank will do “everything” to reduce inflation, governing board member Andrea Maechler said on Monday, saying last week’s rate hike was intended to signal the central bank’s determination to fight price increases in Switzerland.
“We have tightened monetary policy and raised interest rates to send a clear signal that we will do everything to bring down inflation over time,” Maechler told broadcaster SRF in an interview to be shown later on Monday.
“There are ever more signs that price increases are spreading to goods and services which have not been affected so far,” she said. “We are acting to make sure that inflation does not become entrenched.”
Swiss inflation hit 3.5% in August, its highest level in nearly 30 years, and outside the SNB’s target for a rate of 0-2%. The SNB responded last week by raising its policy rate by 75 basis points to 0.5%. read more
($1 = 0.9934 Swiss francs)
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