Swiss National Bank President Thomas Jordan said in an interview published on Saturday that the central bank could raise interest rates to contain inflation, which remains above its target.

And the Corriere del Ticino newspaper quoted Jordan defending the central bank’s desire for price stability and pointed out that such stability would be achieved when inflation was below 2%, but at the same time in positive territory.

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Government data on Monday showed Swiss inflation eased in May from an annualized rate of 2.2% but remains above the bank’s target range of 0% to 2% from February 2022.

Despite the decline in price growth in the recent period, analysts and market expectations indicate that the Central Bank will raise interest rates at its scheduled meeting on June 22.

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