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SNB’s Jordan Says Rate Hikes Still Needed to Tame Inflation
Inflation remains high in Switzerland and interest rate increases are necessary to keep it under control, according to Swiss National Bank President Thomas Jordan. “Inflation is above our threshold for price stability,” Jordan said on Thursday in Interlaken, Switzerland, where he was attending a conference with Swiss and international policymakers. “We have second-round effects, third-round effects, so inflation is more persistent than we initially thought.” It’s Jordan’s last public appearance before the SNB’s upcoming interest-rate decision on June 22. With the Federal Reserve approaching a possible ... (full story)