SNB Quarterly Bulletin: SNB will remain active in the foreign exchange market as necessary
|The Swiss National Bank has recently published its quarterly assessment of June 2018 with key highlights found below.
- The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, thereby stabilising price developments and supporting economic activity.
- The SNB will remain active in the foreign exchange market as necessary.
- Following the March assessment, the Swiss franc initially depreciated slightly against the US dollar and the euro.
- However, in light of political uncertainty in Italy, there has since been discernible countermovement, particularly against the euro.
- The new conditional inflation forecast for the coming quarters is slightly higher than it was in March 2018 due to a marked rise in the price of oil.
- The economic signals for the coming months remain favourable.
- The SNB’s baseline scenario therefore assumes that the global economy will continue to grow above its potential.
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