• Concerns about stability in the euro area have led to renewed financial market tensions
  • Against this backdrop, the swiss franc has again appreciated
  • Should tensions be exacerbated, this would have detrimental effect on the swiss economy
  • If a deflation threat emerges, the SNB would take the measures necessary to ensure price stability- i guess they mean some more intervention
    ;)
  • Conditional inflation forecast for 2012 and 2013 is slightly below the Septmber forecast
  • Conditional inflation report shows that there is no threat to price stability in the short-term
  • Inflation forecast showed current expansionary monetary policy cannot be maintained over the entire forecast horizon
  • Weakening of exports, in particular, points to a significant reduction in growth in the quarters ahead