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Jordan Says Inflationary Pressure Stronger Than SNB Can Tolerate

SWITZERLAND
  • Worth noting Swiss National Bank’s Chairman Jordan is speaking in Zurich:
    • Says price stability does not happen automatically – (Reuters)
    • In 2022 second-round effects rose, inflation spread
    • Swiss job market is still very strong
    • Strong Swiss job mkt could affect firms' cost, inflation
    • Don't see a wage-price spiral in Switzerland
    • Inflationary pressure stronger than SNB can tolerate
    • SNB can't exclude more interest-rate increases (BBG)

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