SNB head Jordan said Swiss inflation gained in January, but stayed within target range

<p>Swiss National Bank Chairman Thomas Jordan spoke to the Club der Zuercher Wirtschaftsjournalisten (Business Journalists club) on Tuesday. </p><p>He also spoke on Monday with broadcaster SRF</p><p>Some of his remarks ICYMI:</p><ul><li>
“Our expectation is that inflation went up, because of the VAT increase and electricity prices” </li><li>“But it shouldn’t go above 2%. That’s the base scenario”</li><li> this year inflation should average below 2%</li></ul><p>The data for January Swiss consumer-price data are due on February 12. The CPI has been within the SNB 0%-2% target range since June. June was also the month when rates were last hiked. The consensus expectation is for an SNB first rate cut in September 2024.</p><p>***</p><p>SNB hiking cycle:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.