Andrea Maechler, member of the governing board of Swiss National Bank (SNB) said on Monday that they see a pick-up in inflation, but expect it to return to price stability, Reuters reported. “We continue to see that inflation remains below 1%,” said the official, adding that the Swiss franc is still highly valued, which dampens inflation.
On the job market, Maechler said it is at levels lower than where it could be in Switzerland. With regard to monetary policy, he indicated that the current expansionary policy “is absolutely necessary.” He added that the negative interest rate of 0.75% and interventions are necessary to relieve pressure on the franc as necessary.
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