SNB has kept interest rates unchanged at -0.75% after its meeting this morning - as expected. The most prominent points mentioned in its monetary policy statement were as follows:
The bank is willing to intervene in the currency market if necessary.
It will closely monitor the movements of the Swiss franc.
The franc remains stable at high levels.
Switzerland may see inflation at 0.7% this year, at -0.2% in 2021, and 0.2% in 2022.
GDP is likely to contract by 6% this year.
The bank remains ready to take all expansionary measures to ameliorate the repercussions of Coronavirus outbreak.
The bank also agreed to continue liquidity support for the banking sector.
The bank is willing to intervene in the currency market if necessary.
It will closely monitor the movements of the Swiss franc.
The franc remains stable at high levels.
Switzerland may see inflation at 0.7% this year, at -0.2% in 2021, and 0.2% in 2022.
GDP is likely to contract by 6% this year.
The bank remains ready to take all expansionary measures to ameliorate the repercussions of Coronavirus outbreak.
The bank also agreed to continue liquidity support for the banking sector.
