Falling Swiss franc boosts inflation but SNB policy is unchanged
SNB revises down GDP growth forecasts and warns franc “remains highly valued”
The Swiss National Bank has revised upwards its inflation forecasts because the recent depreciation of the franc against the euro is boosting prices, the central bank says in its policy statement released today (September 14).
“Since the last monetary policy assessment (on June 15), the Swiss franc has weakened against the euro and appreciated against the dollar,” the SNB says. The franc has fallen to Sfr1.148:€1 today, from Sfr1.087:€1 on June 15.
As a result, inflation is now expected to
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