SNB leaves policy rate unchanged at 1.75% as expected

<ul><li><a href="https://www.forexlive.com/centralbank/snb-leaves-policy-rate-unchanged-at-175-20230921/" target="_blank" rel="follow">Prior</a> 1.75%</li><li>Will adjust monetary policy if necessary to ensure inflation remains in range consistent with price stability over the medium-term</li><li>Willing to be active in FX market as necessary</li><li>2023 inflation seen at 2.1% (prior 2.2%)</li><li>2024 inflation seen at 1.9% (prior 2.2%)</li><li>2025 inflation seen at 1.6% (prior 1.9%)</li><li><a href="https://www.snb.ch/en/publications/communication/press-releases-restricted/pre_20231214" target="_blank" rel="nofollow">Full statement</a></li></ul><p>No major surprises by the SNB in their latest policy decision, as they keep a more neutral stance. They removed the passage that "it cannot be ruled out that further tightening may become necessary", opting for a stance that reaffirms that they are officially on hold now. And the lower inflation forecasts only serves to support that narrative at the moment.</p>

This article was written by Justin Low at www.forexlive.com.