SNB head Jordan said Swiss inflation gained in January, but stayed within target range

Swiss National Bank Chairman Thomas Jordan spoke to the Club der Zuercher Wirtschaftsjournalisten (Business Journalists club) on Tuesday.

He also spoke on Monday with broadcaster SRF

Some of his remarks ICYMI:

  • “Our expectation is that inflation went up, because of the VAT increase and electricity prices”
  • “But it shouldn’t go above 2%. That’s the base scenario”
  • this year inflation should average below 2%

The data for January Swiss consumer-price data are due on February 12. The CPI has been within the SNB 0%-2% target range since June. June was also the month when rates were last hiked. The consensus expectation is for an SNB first rate cut in September 2024.


SNB hiking cycle:

This article was written by Eamonn Sheridan at Source