SNB struggles to end ultra-loose policy regime
Swiss central bank’s hopes of normalising policy are being held back by various domestic and foreign factors
The Swiss National Bank is having difficulty exiting its ultra-loose monetary policy regime, and economists say a rate hike is unlikely until the end of 2018 at the earliest.
The SNB left its accommodative stance unchanged in the monetary policy assessment today (March 15), as the Swiss franc has appreciated against the US dollar in recent months and inflation expectations fell.
The interest on sight deposits at the SNB remains at –0.75%, and the target range for the three-month Libor stays
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