SNB's Jordan: Monetary policy is is still expansionary

SNB's Jordan, who has been chatting more in the NY session at least of late, is no the wires saying:

• monetary policy is a still expansionary
• we have most likely to adjust monetary policy again
• inflation is very thorny and there is still a risk that inflation will rise further
• inflation rate is above our target now.
• Expect it to be above our target if we don't take that into account
• central banks around the world are now in a tightening cycle

Yesterday Jordan said:

• He sees weaker growth in 2023 than this year.
• SNB still has credibility that inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term will moderate
• Inflation has broadened
• Sees limited 2nd round wage effects in Switzerland
• There is a great probablility that SNB will need to further tighten monetary policy.
• Nominal appreciation of the franc helps guard against inflation
• The SNB stands ready to BUY OR SELL the keep the franc fx rate appropriate to steer inflation to target level
• May hike in December but the decision will be data dependent

Looking at the daily chart of the USDCHF USD/CHF The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, The USD/CHF is the currency pair encompassing the dollar of the United States of America (symbol $, code USD), and the Swiss franc of Switzerland (code CHF). The pair’s exchange rate indicates how many Swiss francs are needed in order to purchase one US dollar. For example, when the USD/CHF is trading at 1.2500, it means 1 US dollar is equivalent to 1.25 Swiss francs. The US Dollar (USD) is the world’s most traded currency, whilst the Swiss franc (CHF) is the world’s sixth most traded currency, Read this Term below, the pair moved below the August low at 0.9370 and traded to the lowest level since April 12. A momentum could not be sustained and the prices would backfire on the day. The high price stalled within a swing area between 0.9453 and 0.9479. A broken trend line cuts across near 0.9479.