Details from the December 2017 SNB monetary policy meeting 14 December 2017
- 3m LIBOR lower target -1.25%
- 3m LIBOR upper target -0.25%
- Sight deposit rate -0.75%
Highlights;
- Remains active in currency markets as necessary
- 2018 GDP around 2.0% vs 1.0% prior
- 2017 CPI 0.5% vs 0.4% prior
- 2018 CPI 0.7% vs 0.4% prior
- 2019 CPI 1.1% unch
- Depreciation of swissfranc reflects fact safe havens are currently less sought after
- Swiss Franc remains highly overvalued
- Negative rates and SNB’s willingness to intervene in FX as necessary remains essential
EURCHF is up to a high of 1.1672 from around 1.1640. USDCHF 0.9863 from 0.9843.
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