SNB announces its latest monetary policy decision - 17 June 2021
- Prior -0.75%
- Sight deposit interest rate unchanged at -0.75%
- Swiss franc remains highly valued
- SNB prepared to intervene in FX markets if needed
- Sees 2021 inflation at 0.4% (previously 0.2%)
- Sees 2022 inflation at 0.6% (previously 0.4%)
- Sees 2023 inflation at 0.6% (previously 0.5%)
- There are signs of improvement in Swiss labour market
- Swiss GDP can be expected to show strong growth in Q2
- Full statement
There isn't anything here that really stands out as the SNB reaffirms its position and despite the updated and higher inflation forecasts, they aren't anything or anywhere near enough to suggest a material shift in monetary policy.
