Central bank action could lead to inflation

Thomas Jordan, a member of the Swiss National Bank's governing board, has warned that central banks' response to the credit crunch could precipitate inflation.

Jordan on Friday described inflation as a "potential cost" of recent rate cuts made to counter the increased risk of recession resulting from the turmoil. Jordan said the expansionary monetary policy stance in some countries "has probably contributed to the rise in commodity prices in recent months, and to the rise in energy prices, in

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