The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits. The SNB announced Weaker inflation forecasts matching moves by the ECB. Shows a long way from normalising policy and linked to the ECB actions.
The Swiss National Bank kept negative interest rates unchanged at -0.75% for sight deposits. The SNB announced Weaker inflation forecasts matching moves by the ECB. Shows a long way from normalising policy and linked to the ECB actions.
SNB announces its 21 March 2019 monetary policy decision
Interest Rates
- Sight Deposits -0.75% UNCH
- 3-month Libor lower target range -1.25%
- 3-month Libor upper target range -0.25%
Statement Highlights 2019
- 2019 GDP growth forecast seen at 1.5% (unchanged)
- 2019 inflation forecast seen at 0.3% (down from 0.5% in December)
- 2020 inflation forecast seen at 0.6% (down from 1.0% in December)
- 2021 inflation seen at 1.2%
- Global risks are still to the downside
- Central bank makes downward revision to its growth outlook for advanced economies
- Swiss franc remains highly valued
- Situation of FX market continues to be fragile
- Prepared to intervene in markets if needed
Source: SNB
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