SNB's Jordan says hikes less pressing

The Swiss National Bank (SNB) currently sees further rate hikes as necessary to keep inflation at bay, while indicating the need for action has become smaller, the central bank's directorate member Thomas Jordan said in a speech Thursday 22 March.

"From today's perspective, the normalisation of monetary policy is not completed yet," Jordan said in the speech.

"However, given the weaker inflation forecast, the need for action has become smaller."

Jordan said that strong economic growth coupled wi