SNB President Martin Schlegel said that due to the influence of the Swiss franc, the impact of the SNB's monetary policy on economic output is stronger than in the Eurozone. Speaking in Zurich on Thursday, he said that central bank officials have observed that interest rate hikes will curb inflation and economic growth at the same time, and that the impact is “slightly stronger” than the neighboring Eurozone and the US. “This shows that the exchange rate occupies a more important position in the transmission mechanism of Swiss monetary policy.” Schlegel said, “After a year, Switzerland's inflation response was similar to that of the Eurozone, and slightly higher than that of the US. This also confirms the greater importance of exchange rates.” “Looking back at the inflation trend in Switzerland since this century, it can be seen that most of the time, inflation fell within the range corresponding to price stability.” Schlegel said, “The Swiss central bank has completed its mission of maintaining price stability in the medium term. This is proof that our monetary policy strategy can adapt to a variety of environments.”

SNB President Martin Schlegel said that due to the influence of the Swiss franc, the impact of the SNB's monetary policy on economic output is stronger than in the Eurozone. Speaking in Zurich on Thursday, he said that central bank officials have observed that interest rate hikes will curb inflation and economic growth at the same time, and that the impact is “slightly stronger” than the neighboring Eurozone and the US. “This shows that the exchange rate occupies a more important position in the transmission mechanism of Swiss monetary policy.” Schlegel said, “After a year, Switzerland's inflation response was similar to that of the Eurozone, and slightly higher than that of the US. This also confirms the greater importance of exchange rates.” “Looking back at the inflation trend in Switzerland since this century, it can be seen that most of the time, inflation fell within the range corresponding to price stability.” Schlegel said, “The Swiss central bank has completed its mission of maintaining price stability in the medium term. This is proof that our monetary policy strategy can adapt to a variety of environments.”