Business
Reuters
Global monetary policy is moving into a new phase of higher interest rates to combat resurgent inflation, Swiss National Bank Chairman Thomas Jordan told Bilanz magazine in an interview. "It's a new situation, for the first time since 2008, we are seeing monetary policy moving toward tightening in most currency areas," Jordan told the magazine in an article to be published on Friday. "We are moving into an unpleasant situation for monetary policy: inflation is already high globally and is even rising in many countries, while at the same time economic activity is weakening worldwide," he said.