Economic Buzz: Swiss National Bank Keeps Exchange Rate Unchanged And Seen Higher Economic Growth (13:47, 19 Sep 2013) The Swiss National Bank (SNB) is maintaining its minimum exchange rate of CHF 1.20 per euro. The Swiss franc is still high. The SNB stands ready to enforce the minimum exchange rate, if necessary, by buying foreign currency in unlimited quantities, and to take further measures, as required. The target range for the three month Libor will stay at 0.0-0.25%. The SNB now anticipates somewhat higher inflation of -0.2% for 2013 and 0.3% for 2014. The inflation forecast for 2015 remains unchanged at 0.7%. There are therefore no signs of inflation risk in Switzerland. The SNB has now revised its 2013 growth forecast upwards from 1.0-1.5% to 1.5-2.0%. Powered by Commodity Insights
Posted on: Thu, 19 Sep 2013 08:37:21 +0000
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