IMF tells SNB to consider asset purchases

thomas-jordan-snb-board
SNB governor Thomas Jordan

The International Monetary Fund today called on the Swiss National Bank (SNB) to ease its monetary policy further, possibly by launching a programme of foreign currency asset purchases.

In a bleak assessment of the economic landscape, the IMF said the combination of an overvalued franc and lower oil prices were likely to push inflation down to -1.5% by late 2015. Growth, meanwhile, was likely to drop from 2% last year to 0.75% in 2015.

"Further monetary easing would support adjustment," the IMF

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