Swiss National Bank sharply lowers inflation expectations

The Swiss National Bank (SNB) has cut its inflation expectations due to weaker growth globally, it says in its monetary policy assessment released today (March 21).

The central bank has left interest rates unchanged. Interest on sight deposits at the SNB stays at –0.75%, and the target range for the three-month Libor at between –1.25% and –0.25%.

The SNB has also revised down its December inflation forecasts. It now expects prices to increase by just 0.3% in 2019, down from the 0.5% in the