SNB: Willing to intervene and will remain active in FX market as necessary
|Reuters is out with the key headlines from the Swiss National Bank (SNB) monetary policy assessment.
Willing to intervene and will remain active in FX market as necessary.
Expansionary monetary policy continues to be necessary.
Trade tensions could further hurt global economic mood.
Franc remains highly valued.
2019 GDP forecast at 0.5% to 1.0%; previously 1.5%.
2019 inflation forecast at 0.4%; previously 0.6%.
2020 inflation forecast at 0.2%; previously 0.7%.
2021 inflation forecast at 0.6%; previously 1.1%.
Chief among them are still political uncertainty and trade tensions, which could lead to renewed turbulence on the financial markets and a further dampening of economic sentiment.
Over the short term, international momentum is likely to be modest.
However, in the medium term the SNB expects the global economy to pick up again, not least due to monetary policy easing measures.
Inflation is then expected to rise again gradually.
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