SNB holds rates, vows to fight franc appreciation
Bank says short-term inflation pressures are high but will remain ‘virtually unchanged’ in medium term
The Swiss National Bank (SNB) has held rates at 0% at its first meeting of the year.
At a press conference following a meeting today (March 19) of its executive board, SNB governor Martin Schlegel said the conflict in the Middle East had increased inflationary pressures, though this was only likely to be the case over the short term. Over the medium term, the outlook for inflationary pressures had remained “virtually unchanged” since the bank’s previous rates decision in December.
The SNB, which
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