SNB: Swiss franc is highly valued

Reuters reports key highlights from the Swiss National Bank (SNB) monetary policy statement released last minutes.

Will remain active in the FX market as necessary.

Swiss franc is highly valued.

Situation in the FX market is still fragile.

Sees 2018 growth at 2% to 2.5% (previously 2%).

Sees 2018 inflation at 0.9% (unchanged).

Sees 2019 inflation at 0.8% (previously 0.9%).

Sees 2020 inflation at 1.2% (previously 1.6%).

Economic signals for the coming months remain favourable.

Negative rates and SNB's willingness to intervene in FX market remains essential.

Sees inflation rising to 2% in Q2 2021.

Following strong growth in previous quarters, pace expected to slow slightly.