SNB board member says inflation is within target range

Published 11/21/2024, 02:52 PM
Updated 11/21/2024, 02:56 PM
© Reuters. FILE PHOTO: A flag is pictured on the Swiss National Bank (SNB) building in Bern, Switzerland, November 6, 2024. REUTERS/Denis Balibouse/File Photo

By Emma Farge

GENEVA (Reuters) - Swiss National Bank governing board member Petra Tschudin said on Thursday that inflation was comfortably within the range it hoped to see.

Inflation in October dropped to 0.6%, its lowest level since June 2021, stoking analyst expectations the SNB will press ahead with further rate cuts.

Asked about the risk of possible deflation at a banking event in Geneva, she said: "Inflation is now comfortably in the range of 0-2% where we want to see inflation (and) our definition of price stability."

© Reuters. FILE PHOTO: A flag is pictured on the Swiss National Bank (SNB) building in Bern, Switzerland, November 6, 2024. REUTERS/Denis Balibouse/File Photo

She declined to comment further on the outlook for monetary policy which she said will be decided at the SNB's upcoming meeting on Dec. 12.

The central bank has been at the forefront of interest rate cuts this year, lowering borrowing costs three times in 2024 to 1%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.