Swiss National Bank makes no changes to its monetary policies
- 10 months ago
The Swiss National Bank will keep its policy of monetary expansion and stabilizing development and boosting economic activity.
As of its last assessment in September the Swiss franc has depreciated due to the global trade issues and the strengthening of the greenback, it maintains its position against the Euro nevertheless.
The Swiss franc is still deemed as highly valuable and as the foreign exchange market continues to be fragile its willingness to intervene is necessary, therefore maintaining the attractiveness of the currency.
The new conditional inflation forecast for the coming quarters is below than September due to the decline in oil prices.
The medium-term inflation forecast is also slightly lower owing to more moderate growth prospects and as for the remainder of the year, the SNB continues to anticipate inflation of 0.9%. The forecast for 2019 has been revised down from 0.8% to 0.5%.
The SNB expects inflation of 1.0%, compared with its previous forecast of 1.2% in 2020 while the conditional inflation forecast is based on the assumption that the three-month Libor remains at –0.75% over the entire forecast horizon.
Source: Smart Trend Team