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Swiss inflation on target, Swiss National Bank Chairman says

BY Reuters | ECONOMIC | 07:14 AM EDT

ZURICH, May 28 (Reuters) - Swiss inflation is currently within the Swiss National Bank's target range, SNB Chairman Martin Schlegel said on Thursday, with the central bank relying mainly on its interest rate to steer monetary policy.

The SNB would also use foreign-exchange interventions "if necessary", Schlegel said, according to slides presented at an event in Reykjavik, Iceland.

The SNB targets an annual inflation rate of 0% to 2%. Prices in Switzerland rose by 0.6% in April compared with a year earlier, pushed up by sharply higher petrol costs. (Reporting by John Revill Editing by Linda Pasquini)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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