SNB Board member Andrea Maechler told Swiss newspaper Bilan, “if the inflation we expect does not come down in the medium term to a range between 0% and 2%, we will not hesitate to tighten policy.”
The central bank’s response to inflation “will depend on both inflation dynamics and the economic outlook in Switzerland and abroad”, she said. “We have always said, as soon as we will be able to lift the negative interest rate, we will. We do not know however when we will be able to do so.”
When asked if SNB would follow ECB in rate hikes, she said, “our goal is to conduct a monetary policy that is appropriate for the Swiss economy to ensure price stability in the medium term.”
