Thus, we will not hesitate to tighten monetary policy further if necessary," Jordan said at a central bank conference in Zurich.
With inflation rates lower and interest rates higher than they were a year ago, Jordan said it has become considerably more difficult to balance the risk of tightening monetary policy too much against the risk of tightening it too little.
"Given the high uncertainty regarding the economic outlook, there is no clearly mapped-out path for monetary policy in the near future," Jordan said.
In September the SNB held its policy interest rate unchanged at 1.75%, noting that inflation has ebbed lower in Switzerland, but said a further tightening cannot be ruled out.
Reporting by Noele Illien Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.
Persons:
Thomas Jordan, Jordan, Noele, Tomasz Janowski
Organizations:
Swiss National Bank, Thomson
Locations:
ZURICH, Zurich, Switzerland