SNB’s Jordan Signals Rate Hike With Swipe at Loose Policy Bias

From bnnbloomberg.ca

Swiss National Bank President Thomas Jordan signaled that interest rates should rise again as price pressures begin building in the economy. “Financial conditions should now be tightened with a clear focus on bringing inflation back to target,” he said Tuesday in Washington, in comments that also warned his counterparts to avoid an “underlying expansionary bias” and to beware of the “political convenience” of looser monetary policy. Swiss officials have raised borrowing costs by 125 basis points to 0.5% this year and are expected to deliver another hike at the next scheduled meeting in mid-December. While ... (full story)