Dec 19, 2018
SNB Quarterly Bulletin: SNB will remain active in the foreign exchange market as necessary
"The SNB will remain active in the foreign exchange market as necessary, while taking the overall currency situation into consideration," the SNB said in its Quarterly Bulletin.
- Overall, the Swiss franc is still highly valued, and the situation on the foreign exchange market continues to be fragile.
- The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market as necessary remain essential.
- Global growth lost momentum somewhat in the third quarter.
- Employment figures in the advanced economies rose again and unemployment continued to decline. The growth in international trade in goods also continued.
- In its baseline scenario for global economic developments, the SNB anticipates solid growth in the coming quarters.
- Nevertheless, there are significant risks to this positive baseline scenario, primarily in connection with political uncertainties and protectionist tendencies.