- Continues to aim for 0.25%
- SNB sees 2010 Swiss growth at around 2% vs previous forecast of 1.5%
- 2010 inflation at 0.9% vs previous forecast of 0.7%; 2011 inflation at 1.0% vs previous 0.9%; 2012 inflation at 2.0% unchanged from previous forecast
- Weakening of the euro with respect to the swiss franc is dampening export activity
- Deflationary risk for Switzerland has largely disappear
- Inflation forecast shows short-term price stability guaranteed
- Current expansionary monetary policy cannot be maintained over entire forecast horizon
- Uncertainty increased since last assessment
- Inflation forecast still associated with very considerable uncertainties
- Latest tensions on the fin markets have increased the downside risks
SNB makes little reference to swiss franc level, EUR/CHF trading lower around 1.3807 from early 1.3870.
EDIT: SNB says to take all measures if downside risks materialise and via an appreciation of the franc lead to a deflation risk
