SNB reiterates commitment to franc price ceiling and zero interest rate
The Swiss National Bank (SNB) today said its minimum exchange rate of Sfr1.20 per euro "remains essential", adding it "stands ready to enforce the minimum exchange rate, if necessary, by buying foreign currency in unlimited quantities".
The inflation outlook, the bank says, has hardly changed since June, though it has raised its forecast for 2013 to -0.2% over the year. Next year, the SNB expects its price index to rise by 0.3%, and by 0.7% in 2015, leading it to conclude: "There are therefore
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