The Swiss National Bank (SNB) decided to keep interest rates unchanged at -0.75% at its meeting today. The following are the highlights of the monetary policy statement:
- The Swiss franc depreciated, but its value remains high.
- The situation in the foreign exchange market remains fragile.
- The Swiss National Bank will remain active in the foreign exchange market.
- Negative interest rates as well as a willingness to intervene in the FX market will remain necessary factors to reduce the attractiveness of CHF investments.
- Continue to monitor the situation in the mortgage markets and property markets.
- The imbalances in mortgage and property markets persist.
