Higher global inflation allows SNB to let franc rise – Jordan
Less integrated global economy could lead to persistent higher inflation, says SNB chair
The Swiss National Bank has room to leave the country’s currency to appreciate in nominal terms, chairman Thomas Jordan said today (April 29).
Higher global inflation is providing the SNB with space to do this, Jordan said. In March inflation rose year-on-year in Switzerland by 2.4%, slightly over the SNB’s target of between 0% and 2%. Nonetheless, it is much lower than in the eurozone (7.4%) or the US (8.5%).
As a global safe haven the Swiss franc tends to appreciate during periods of
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