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More from SNB’s Jordan: No comment on currency invention. We don’t rule anything out

  • Looks at series of models to gauge Swiss francs value; market has to live with some volatility
  • no comment on currency intervention. We don’t rule anything out
  • monetary policy cannot influence explosion and prices in case of a severe shortage
  • the longer inflation last, the greater the risk of a 2nd round of facts having a negative impact
  • central banks need to watch out that fiscal policy does not dictate monetary policy

Meanwhile SNB’s Maechler is now joining in saying:

  • inflation is back and we are reminded of negative power of inflation
  • we are seeing the 1st data point where inflation seems to be stabilizing, too early to call trend
  • central bankers need to tame inflation ideally without creating a recession
  • we live in a world that is very fragile, that is why it is important to move step-by-step


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