SNB announces its latest monetary policy decision - 17 December 2020
- Prior -0.75%
- Sight deposit interest rate unchanged at -0.75%
- Swiss franc is highly valued
- Will remain active in FX market as necessary
- Expansionary policy provides favourable financing conditions
- Also counters upward pressure on Swiss franc
- Sees inflation this year at -0.7%, 2021 at 0.0%, 2022 at +0.2%
- Assumption is there will not be significant easing on virus measures until spring
- Recovery thus remains incomplete
- Global economy is still subject to high uncertainty
- Full statement
No change to the language on the franc or on intervention, and a slight downgrade to its inflation outlook for this year and next. That's about it from the SNB, in what is a rather non-event really as they reaffirm a similar stance to September.