SNB Chairman Thomas Jordan, said in a conference, “In an environment such as the one we face today, mixed signals on the persistence of inflation might tempt policymakers to postpone further reaction to inflationary pressures until uncertainty about future inflation has receded”.
“Yet uncertainty must not mean indecision. A risk management approach to policy-making sometimes calls for decisive action,” he added
“When faced with large shocks that increase the risk of persistent movements of inflation away from the range, determined action is necessary, irrespective of whether these movements are below or above the range,” Jordan said.
