- Prior 1.75%
- Will adjust monetary policy if necessary to ensure inflation remains in range consistent with price stability over the medium-term
- Willing to be active in FX market as necessary
- 2023 inflation seen at 2.1% (prior 2.2%)
- 2024 inflation seen at 1.9% (prior 2.2%)
- 2025 inflation seen at 1.6% (prior 1.9%)
- Full statement
No major surprises by the SNB in their latest policy decision, as they keep a more neutral stance. They removed the passage that “it cannot be ruled out that further tightening may become necessary”, opting for a stance that reaffirms that they are officially on hold now. And the lower inflation forecasts only serves to support that narrative at the moment.
This article was written by Justin Low at www.forexlive.com. Source