SNB maintains ultra-loose policy despite stronger growth

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The Swiss National Bank has decided to maintain its ultra-loose monetary policy and continue making forex interventions largely due to the appreciation of the franc.

The stronger growth recorded by the Swiss economy over the last few quarters has been offset by the deflationary pressures created by a stronger franc. In its monetary policy assessment, the SNB has revised down its inflation forecasts in 2019 and 2020 “as a result of the appreciation”.

According to the September 20 decision

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