Recession fears and geopolitical tensions have boosted the Swiss franc as a safe haven currency. Last June, the Swiss National Bank (SNB) hiked interest rates by 50 points, causing the Swiss Franc to go up to a 7-year high. Andrea Maechler, SNB’s governing board member, said on Thursday that “it’s important to take monetary policies step by step”, [depending on inflation data]. “Next step depends on analysis underway, and we need to gauge inflationary pressure, exchange rate,” spoke SNB’s Chairman, Thomas Jordan, in a statement after the ECB meeting. Overall, there’s no signal on the next monetary tightening decision for the upcoming September 22 SNB meeting.