SNB's Jordan Says No Rate Hike for 'Relatively Long Time'

The transcript discusses the Swiss National Bank's (SMB) monetary policy, focusing on maintaining negative interest rates and the willingness to intervene in foreign exchange markets. It highlights the overvaluation of the Swiss franc and its impact on inflation forecasts. Despite a slight increase in inflation expectations for 2020, the SMB does not foresee an immediate need to adjust monetary policy. The transcript also explains the concept of conditional inflation forecasts and emphasizes the continuation of the current monetary policy due to low inflation pressure and a small interest rate differential with the Eurozone.

What are the implications of a potential interest rate increase in the coming years according to the text?

Explain the concept of conditional inflation forecasts mentioned in the text.