"The Swiss Central Bank will do everything to reduce inflation"

Swiss National Bank (SNB) Board Member Andrea Maechler said the bank will do everything to bring inflation down. Strong messages about the fight against inflation continue to come from the Swiss National Bank, which broke out of negative interest rate territory after eight years with its aggressive rate hike last week. Swiss National Bank (SNB) Board Member Andrea Maechler emphasized that the interest rate hike they made last week was aimed at signaling the bank’s determination to fight price increases. “We tightened monetary policy and raised interest rates last week to send a clear signal that we will do everything to bring inflation down over time,” Maechler told SRF television. She also noted that there were more signs that price increases were spreading to goods and services that had not been affected until now, and said, “We are taking steps to ensure that inflation does not harden.”