The SNB maintained its minimum exchange rate of
The SNB reiterated that it will continue to enforce the minimum exchange rate with the utmost determination. Further, the bank repeated that it is prepared to purchase foreign currency in unlimited quantities for this purpose, and to take further measures as required if necessary.
The path of the SNB's conditional inflation forecast of June points to lower inflationary pressure in the medium term. The bank sees no signs of inflation risks in
At 0.1%, the inflation forecast for the current year was raised by 0.1 %age points from zero.
It estimates 0.3% inflation for 2015, instead of 0.4% projected in March. For 2016, inflation is seen at 0.9%.
The SNB expects the moderate recovery to continue in the coming quarters. For 2014, it again expects a growth rate of around 2%.
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