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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