ZURICH, Nov 25 (Reuters) – A further rise in interest
rates cannot be ruled out when the Swiss National Bank next
meets to discuss policy on December 14, SNB Chairman Thomas
Jordan told Swiss newspaper NZZ am Sonntag.
“We cannot yet declare inflation to be defeated,” Jordan
told the paper.
Although inflation in Switzerland is currently under the
central bank’s 2% target, Jordan said uncertainty about its
future path was high.
“In this uncertain environment, we are monitoring further
developments very closely and will decide at the December
assessment whether monetary policy needs to be tightened
further,” he said.
At its last quarterly assessment in September, the SNB held
its policy interest rate unchanged at 1.75% but said a further
tightening could not be ruled out.
(Reporting by Noele Illien; Editing by Christina Fincher)