“The aim of tightening monetary policy is to prevent the spread of inflation in goods and services in Switzerland,” the bank said in a report on Thursday.
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She added that no further increase in interest rates could be ruled out in the foreseeable future. She also pointed out that she was also ready to intervene in the foreign exchange market if necessary.
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Year-on-year inflation in Switzerland climbed to 2.9 percent in May, the highest in almost 14 years. According to the central bank, it is likely to remain elevated for the time being.
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As part of the fight against inflation on Wednesday, the US Federal Reserve (Fed) tightened its monetary policy again, raising its key interest rate by 0.75 percentage point to 1.50 to 1.75 percent. This is the most significant increase in almost 30 years.
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The Fed thus accelerated the tightening of monetary policy. In March, the key interest rate increased by half a percentage point after a February increase of a quarter of a percentage point.
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The European Central Bank (ECB) signaled last week that it would start raising interest rates in July. Year-on-year inflation in the euro area climbed to a record 8.1 percent in May.
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In Switzerland, rising prices are being held back by the strong exchange rate of the Swiss franc, which is considered a safe haven in times of uncertainty. A stronger domestic currency reduces, for example, the prices of imported fuels and food.
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