The SNB left its expansionary monetary policy unchanged at its policy meeting today.
Following are main headlines from the policy statement:
Prepared to intervene in the FX market if needed.
Negative rate, intervention pledge remains essential.
2018 GDP growth forecast unchanged at 2%.
2018 inflation seen at 0.9% (previous forecast 0.6%).
2019 inflation seen at 0.9% (previous forecast 0.9%).
2020 inflation seen at 1.6% (previous forecast 1.9%).
CHF remains highly valued.
Economic signals for global economy remains favorable.
Risks to SNB’s baseline scenario are more to the downside.
Situation in the FX market remains fragile.
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