SNB: Willingness to intervene in FX market as necessary remains essential
In its Quarterly Bulletin, the Swiss National Bank (SNB) reiterated that the negative interest rate and the bank's willingness to intervene in the foreign exchange market as necessary remain essential in order to ease the pressure on the CHF. The USD/CHF pair didn't show a reaction to the SNB's remarks and was last seen moving sideways near 0.9970, losing 0.3% on the day.
"Inflationary pressure is likely to remain moderate. The risks to this baseline scenario are still to the downside," noted the SNB. "However, they are more pronounced than at the SNB’s previous monetary policy assessment."
"The SNB continues to expect the economy to grow by around 1.5% in 2019. As is the case with the global economy, the risks for this scenario remain to the downside."
This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.