SNB board member Andrea Maechler said yesterday, “We have tightened monetary policy and raised interest rates to send a clear signal that we will do everything to bring down inflation over time.”
“There are ever more signs that price increases are spreading to goods and services which have not been affected so far,” she said. “We are acting to make sure that inflation does not become entrenched.”
On the question of further rate hike, she said, “I never speak of interest rate expectations. I can only say what the market expects, and it expects the SNB and other central banks to further increase their rates.”
