SNB announces its latest monetary policy decision - 23 September 2021

  • Prior -0.75%
  • Sight deposit interest rate unchanged at -0.75%
  • Swiss france remains highly valued
  • SNB will remain active in FX markets as necessary
  • Sees 2021 inflation at 0.5% (previously 0.4%)
  • Sees 2022 inflation at 0.7% (previously 0.6%)
  • Sees 2023 inflation at 0.6% (previously 0.6%)
  • Swiss GDP likely to return to pre-crisis level in 2H 2021
  • Full statement

A rather non-event by the SNB and that keeps with market expectations, given that they have pretty much no room to maneuver at the moment. Carry on as you will.