Central Banks
SNB Calls End to Hiking Cycle, Signals Shift in Franc Policy
- Officials drop wording on hiking and on selling currency
- ‘Monetary conditions are adequate,’ President Jordan says
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The Swiss National Bank called an end to its tightening cycle and signaled a shift in currency policy as officials kept borrowing costs unchanged after inflation slowed emphatically.
“Monetary conditions are adequate and we do not have to hint at any change of monetary policy in the future,” President Thomas Jordan told Bloomberg TV. “Price stability is already ensured given our newest inflation forecast.”