FOREX TradingCharts.com

Financial News: Swiss Central Bank Maintains Policy Rates

Swiss Central Bank Maintains Policy Rates

09/23/2021 - 03:52:00 (RTTNews)

(RTTNews) - The Swiss National Bank decided to maintain its expansionary monetary policy in order to ensure price stability and underpin economic recovery.

Policymakers of the central bank on Thursday decided to retain the policy rate and interest on sight deposits at the SNB at -0.75 percent.

The bank said it is willing to intervene in the foreign exchange market as necessary, in order to counter upward pressure on the Swiss franc. The bank repeated that the Swiss franc remains highly valued.

Citing higher prices for oil products as well as for goods affected by supply bottlenecks, the bank raised its inflation forecast.

The inflation forecast for 2021 was upgraded to 0.5 from 0.4 percent and that for 2022 to 0.7 percent from 0.6 percent. Inflation is seen at 0.6 percent in 2023, unchanged from prior estimate.

The SNB expects GDP growth of around 3 percent for 2021. In June, the SNB had still been assuming higher growth.

The downward revision is primarily attributable to the development of consumer-related industries such as the trade industry and hospitality, which performed less dynamically than expected.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Lithuania Industrial Production Increases In September (39 min(s), 57 sec(s) ago)
(RTTNews) - Lithuania's industrial production increased in September, figures from Statistics ...Full Story»

Norway Industrial Confidence Weakens In Q3 (02 hr(s), 03 min(s), 57 sec(s) ago)
(RTTNews) - Norway's industrial confidence weakened in the third quarter, data from Statistics ...Full Story»

France Private Sector Growth At 6-Month Low (02 hr(s), 19 min(s), 57 sec(s) ago)
(RTTNews) - France's private sector grew at the slowest pace in six months in October, flash s ...Full Story»

UK Retail Sales Fall Unexpectedly In September (03 hr(s), 32 min(s), 57 sec(s) ago)
(RTTNews) - UK retail sales declined unexpectedly in September, data published by the Office for N ...Full Story»

UK GfK Consumer Confidence Weakens For Third Straight Month (03 hr(s), 57 min(s), 57 sec(s) ago)
(RTTNews) - UK consumer confidence weakened for the third straight month in October, survey result ...Full Story»

Malaysia Inflation Rises In September (04 hr(s), 58 min(s), 57 sec(s) ago)
(RTTNews) - Malaysia's consumer prices inflation rose in September, data from the Department o ...Full Story»

European Economics Preview: UK Retail Sales, Flash PMI Data Due (05 hr(s), 38 min(s), 57 sec(s) ago)
(RTTNews) - Flash Purchasing Managers' survey results and retail sales from the UK are due on ...Full Story»

Japan Manufacturing PMI Accelerates In October - Jibun (59 min(s), 03 sec(s) ago)
(RTTNews) - The manufacturing sector in Japan continued to expand in October, and at a faster pace ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Lithuania Industrial Production Increases In September

10/22/2021 - 05:16 AM (RTTNews)
(RTTNews) - Lithuania's industrial production increased in September, figures from Statistics ...Full Story>>

Norway Industrial Confidence Weakens In Q3

10/22/2021 - 03:52 AM (RTTNews)
(RTTNews) - Norway's industrial confidence weakened in the third quarter, data from Statistics ...Full Story>>

France Private Sector Growth At 6-Month Low

10/22/2021 - 03:36 AM (RTTNews)
(RTTNews) - France's private sector grew at the slowest pace in six months in October, flash s ...Full Story>>

UK Retail Sales Fall Unexpectedly In September

10/22/2021 - 02:23 AM (RTTNews)
(RTTNews) - UK retail sales declined unexpectedly in September, data published by the Office for N ...Full Story>>

UK GfK Consumer Confidence Weakens For Third Straight Month

10/22/2021 - 01:58 AM (RTTNews)
(RTTNews) - UK consumer confidence weakened for the third straight month in October, survey result ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.