Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Swiss National Bank chief stresses tackling inflation as main goal

admin by admin
November 22, 2024
in Economy
0
Swiss National Bank chief stresses tackling inflation as main goal
0
SHARES
8
VIEWS
Share on FacebookShare on Twitter

ZURICH (Reuters) – The Swiss National Bank will continue to target low inflation as the touchstone of its monetary policy, Chairman Martin Schlegel said on Friday, underlining continuity with predecessor Thomas Jordan who stepped down in September.

Schlegel stressed keeping inflation within a range of 0-2% – which the central bank calls price stability – as a key factor for the Swiss economy’s strong performance in recent years.

After a post-pandemic spike, inflation has returned to the target range over the last 17 months, and fell to its lowest level in more than three years in October.

The downward trend has stoked market expectations of more interest rate cuts by the SNB this year and into 2025 to head off deflationary risks.

“The Swiss economy has performed well by international comparison,” Schlegel told an event in Zurich.

“The SNB has contributed to this performance by maintaining price stability despite significant deflationary and inflationary risks,” he said. “Going forward, the SNB will continue to contribute to favourable economic conditions in Switzerland by ensuring price stability.”

The comments echo Jordan’s consistent messaging on inflation during his 12-year stint in charge.

Schlegel, who began his career at the SNB in 2003 and worked as a researcher for Jordan, was widely seen as the bank’s continuity candidate.

He said the SNB needed a flexible inflation target due to Switzerland being strongly affected by global economic trends. He also noted it has a safe-haven currency, which tended to appreciate during downturns.

Schlegel said the SNB’s main tools were its policy interest rate, as well as currency market interventions.

The SNB’s target range allowed the central bank to respond flexibly to shocks and decide how to act, Schlegel said.

This post appeared first on investing.com

Previous Post

Beyond B-loans? Development banks seek private money for climate change fight

Next Post

Canada retail sales grow see grow 0.4% in September led by food and beverage sector

admin

admin

Next Post
Canada retail sales grow see grow 0.4% in September led by food and beverage sector

Canada retail sales grow see grow 0.4% in September led by food and beverage sector

Trending News

Market overreacts to Lululemon’s Q4 earnings: what you need to know

Market overreacts to Lululemon’s Q4 earnings: what you need to know

March 28, 2025
Circle stock price forecast: opportunities and risks

Circle stock price forecast: opportunities and risks

June 19, 2025
Here’s why the Celsius Holdings stock price is ripe for more gains

Here’s why the Celsius Holdings stock price is ripe for more gains

June 29, 2025
Subscribe to Insightful Word


    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025
    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    August 28, 2025
    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    Urban Outfitters stock slides 4% despite strong quarter on cautious outlook

    August 28, 2025

    Recent News

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in

    August 28, 2025
    SentinelOne stock price forecast ahead of earnings: buy or sell?

    SentinelOne stock price forecast ahead of earnings: buy or sell?

    August 28, 2025

    Latest News

    • Nvidia shares fall on China sales exclusion, weaker data center sales: analysts weigh in
    • SentinelOne stock price forecast ahead of earnings: buy or sell?
    • Tesla wants millions of robotaxis by 2025, but will Waymo win the long game?

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.