Moments ago, the Swiss National Bank announced its monetary policy, as the bank maintained its expansionary policy and kept the low interest rate at -0.75%, while emphasizing that it is ready to intervene in the foreign exchange market in order to face the upward pressure on the Swiss franc, as the bank still sees that The value of the franc is very high.
The statement issued by the bank showed that inflation is expected to rise for the current year and next year, compared to estimates in June, at 0.5% for the current year, 0.7% for the next year and 0.6% for the year 2023.
The statement indicated that the Swiss gross domestic product (GDP) recorded a better-than-expected growth in the second quarter of the year, while the labor market continued to improve recently.
The Bank expects the economic situation to continue to recover and the economy to grow by about 3% this year.
The Swiss franc is trading down against the US dollar at 0.9258 levels, compared to 0.9233 levels before the bank announced the statement.
06/11/2024
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