The SNB kept its policy rate at 0%, as forecast by all economists polled by Reuters, as well as markets, which gave a 94% probability for no change before the decision. “Medium-term inflationary pressure has increased only slightly. Monetary policy is appropriate to keep inflation within the range consistent with price stability and supports economic development,” the SNB said in a statement. The central bank also said it is willing to be active in the foreign exchange market as necessary to ensure appropriate monetary conditions. Previously it said it had an increased willingness to intervene in the foreign exchange markets to counter an excessive appreciation of the franc.
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