June 18, 2020 / 9:20 AM / 17 days ago

RPT-Swiss National Bank needs loose policy until inflation returns

(Repeats to attach to headlines)

ZURICH, June 18 (Reuters) - The Swiss National Bank needs to keep its expansive monetary policy in place, Chairman Thomas Jordan said on Thursday, pointing to the economic damage caused by the coronavirus pandemic and lowered inflation forecasts.

“For the time being, I believe it will be necessary to maintain this expansive monetary policy,” Jordan told a press conference after the SNB kept its policy on hold.

“We need more inflation and a much better economic outlook,” before the bank could consider a change, he said. (Reporting by John Revill, editing by Silke Koltrowitz and Brenna Hughes Neghaiwi)

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