Following the Swiss National Bank (SNB) decision to reduce the policy rate for the second consecutive meeting, Chairman Thomas Jordan speaks on the inflation and policy outlook during the post-policy meeting press conference on Thursday.

Key quotes

Underlying inflation pressure has decreased. Swiss Franc has significantly increased in past weeks. Swiss inflation driven by prices for domestic services. We will continue to monitor inflation development closely, adjust policy if necessary. SNB willing to be active in forex markets as necessary. Political risks add to uncertainty about inflation. Franc appreciation due to political uncertainties.