Following the Swiss National Bank (SNB) decision to reduce the policy rate for the second consecutive meeting, Chairman Thomas Jordan speaks on the inflation and policy outlook during the post-policy meeting press conference on Thursday.
Swiss National Bank (SNB) Thomas Jordan said early Thursday that there is a small upward risk to the bank's inflation forecast. “There are reasons to believe that the natural rate of interest has increased or may well rise,” Jordan added.
Swiss National Bank (SNB) Chairman Thomas J. Jordan speaks at the SNB’s General Meeting of Shareholders on Friday. Jordan said that the SNB will continue to monitor inflation, adding that the bank can "adjust policy again when necessary."
The Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.50% to 1.25%, following its quarterly monetary policy assessment on Thursday.
Following its quarterly monetary policy assessment on Thursday, the Swiss National Bank (SNB) board members decided to cut the benchmark Sight Deposit Rate by 25 basis points (bps) from 1.75% to1.50%. The rate decision came in as a surprise to the markets.
At its quarterly monetary policy assessment on September 21, the Swiss National Bank (SNB) kept the benchmark Sight Deposit Rate on hold at 1.75%. The rate decision was against the market expectations of a 25 basis points (bps) rate hike to 2.0%.
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
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Thomas J. Jordan was born in Bienne, Switzerland in 1963. Thomas J. Jordan is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basle and the Steering Committee of the Financial Stability Board (FSB). He is the Governor of the International Monetary Fund (IMF) for Switzerland, and also Chairman of the G10 Central Bank Counterfeit Deterrence Group (CBCDG).
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.