Swiss National Bank (SNB) Chairman Thomas Jordan said on Friday that further rate rises cannot be ruled out, as reported by Reuters.

KEY QUOTES

„Swiss inflation has risen much more than expected, considerably above price stability target.”

„Central bank ready to be active in forex markets.”

„Price increases hitting parts of economy not previously affected.”

„Ensuring price stability demands full attention of the central bank.”

Market reaction

The USD/CHF pair edged slightly lower on these comments and was last seen rising 0.42% on the day at 0.9808.