Swiss National Bank governing board member Andrea Maechler said Monday she sees rising inflation, but expects it to return to the price stability situation, Reuters reported.
“We still see inflation staying below 1%.”
“The use of labor in Switzerland is below what it can be and the franc is still highly valued, which lowers inflation.”
“Expansive monetary policy is absolutely necessary.”
“It needs the negative rate of minus -0.75% and interventions to ease the pressure on the franc when necessary.”
The USD / CHF pair rose slightly after these observations and was last seen gaining 0.15% on the day to 0.9188.