9:30 – Swiss National Bank (SNB) Rates decision:
SNB decided to maintain the current level of rates of 0%, which was in line with market expectations.
Additionally, bank has communicated that they are prepared to intervene in order to maintain the target exchange rate.
It was also shown that a inflation is projected to steadily increase in the coming years, up to 0,6% in 2027.
Economic (GDP) growth is projected to maintain a steady ~1%
Market reaction remains muted due to decision being in line with expectations. However, admitting a potential necessity to defend the exchange has put a minor pressure onto the CHF.
USDCHF (M1)
Source: xStation5
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