Swiss central bank chairman resumes duties after health scare
Jordan says he has made a complete recovery from minor heart surgery.
Keystone / Peter Klaunzer
Swiss central bank chairman, Thomas Jordan, has returned from minor heart surgery to announce that interest rates will remain unchanged, despite increased inflation fears.
This content was published on
1 minute
swissinfo.ch/mga
The Swiss National Bank (SNB) said on Thursday it would keep interest rates in negative territory at -0.75% for the coming months. This policy is designed to stop the Swiss franc from gaining in value too much against other currencies.
The SNB has raised its Swiss inflation forecasts slightly from its previous statement in June. If interest rates remain the same, the central bank now expects to see 0.5% inflation in Switzerland this year (0.4% was forecast in June) and 0.7% in 2002 (0.6% forecast in June).
The upgraded inflation predictions are “primarily due to somewhat higher prices for oil products as well as for goods affected by supply bottlenecks,” the SNB statedExternal link. “In the longer term, the inflation forecast is virtually unchanged compared with June.”
The Organisation for Economic Co-operation and Development (OECD) this week warnedExternal link that the rising costs for raw materials, energy and transporting goods would push global inflation rates up higher than previously expected this year.
But the SNB also sees weakening consumer demand and a slight dip in the rate of economic recovery in Switzerland.
Speaking about his own health, Jordan said on Thursday that he is now fully recovered and able to resume full responsibilities at the central bank.
More
More
How much should we fear inflation?
This content was published on
Consumer prices are expected to rise in the coming months, but long-term inflation forecasts remain muted.
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
SNB chairman in ‘good condition’ after operation
This content was published on
“The operation was successful and Thomas Jordan is in a good condition,” the SNB said in a statement. “He will be able to devote himself fully to SNB official business again after the medically recommended recovery period,” it added. Jordan became chairman of the SNB in 2021 after climbing up through the ranks. Last year,…
Property sole inflationary concern for Swiss central bank
This content was published on
The risk of a housing bubble has increased in the last three months, but the Swiss National Bank is unconcerned about a general inflationary threat.
Swiss economy recovers to near pre-pandemic levels
This content was published on
The Swiss economy grew by 1.8% in the second quarter thanks to stronger household consumption after the easing of Covid-19 restrictions.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.