SNB: Will remain active in FX market as necessary


Here are some of the key highlight from the Swiss National Bank (SNB) quarterly monetary policy assessment:

  • It remains willing to intervene more strongly in the FX market in light of the highly valued CHF.
  • Coronavirus pandemic has led to a severe downturn in economic activity.
  • Sees inflation this year at -0.7%, -0.2% in 2021 and +0.2% in 2022.
  • The overall GDP is likely to contract by 6% this year.
  • Inflation and growth forecasts are subject to unusually high uncertainty.

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