- SNB says to counter an excessive rise in the swiss franc vs the euro, decisively
- To stop buying corporate swiss franc bonds
- Economic recovery, while certainly underway, nevertheless remains fragile
- Financial industry is gradually recovering, but another deterioration cannot be entirely ruled out
- Risk of deflation remains
- Expansionary monetary policy cannot be maintained indefinitely without compromising medium and long-term price stability
- 2010 GDP growth seen at 0.5-1.0%
- 2010 inflation seen at 0.5%, 2011 inflation at 0.9%. Considerable risks attached to inflation forecasts
EUR/CHF sits at 1.5115, fractionally easier on the day.
