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The SNB has maintained its expansionary monetary policy and raised its inflation expectations in the near future

2017-09-14 10:38 am | Resource: NEWS | No Views : 220

The SNB has maintained its expansionary monetary policy and raised its inflation expectations in the near future.

The Swiss National Bank's deposit rate was kept at -0.75 percent, and the three-month Libor target remained unchanged at -1.25 percent and -0.25 percent.

"However, the Swiss franc remains highly valued and the situation in the foreign exchange market remains worrying," the bank said. "The Swiss franc has weakened against the euro and against the dollar since the last meeting," the bank said. Of monetary policy.

Therefore, the negative interest rate and SNB willingness to intervene in the foreign exchange market if necessary remain necessary to reduce the attractiveness of Swiss franc investments and thus relieve pressure on the currency.

The Bank raised its inflation forecast for 2017 to 0.4 percent from 0.3 percent, and revised the outlook for 2018 to 0.4 percent from 0.3 percent. For 2019 inflation could rise 1.1 percent from 1%.

Due to weak GDP in late 2016 and early 2017, the current year is likely to grow just under 1.0 percent.

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