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SNB: negative rates and surprisingly optimistic forecast

The Phase of negative interest rates. The Swiss national Bank (SNB) has confirmed on Thursday their course a second Time. For the Swiss economy, the Central bankers are relatively optimistic.

The Swiss national Bank (SNB) leaves as expected, the interest rate on sight deposits of banks with the national Bank in -0,75 percent and the target range for the three-month Libor rate at between -1.25 and -0.25%.

Also wants to intervene, the national Bank continues to be in demand in the foreign exchange market, because it considers the franc is still "highly valued", such as the SNB announced on Thursday. This is in addition to the negative interest rates of the second main pillar of their policy to weaken the franc.

growth of "around 1.5%"

little also to estimates of the Central banker, the economy changed: The SNB maintains its forecast of economic growth of "around 1.5 percent" for the current year. This is a Surprise, because previously, various economic institutes lowered their forecasts.

at the moment, the economic indicators pointed to a "moderately positive dynamics," said the SNB's your prediction. GDP growth is thus likely to be guardians according to the Currency after the Stagnation in the second half of 2018 something. As global economic risks remain "to the downside but" was given.

As usual, the SNB is also reflected to the Mortgage and real estate market. The imbalances would remain, it said. The national Bank was watching developments "attentively".

Barely movement in the exchange rate

experts had expected that the SNB is maintaining its monetary policy course. The reason for this is to look at the European Central Bank (ECB). This will make increases - as announced recently - at the earliest in the next year, first interest. Since the SNB wants to avoid that the Swiss franc appreciates to the Euro, it will not raise interest rates well before the ECB.

On the foreign exchange and stock market the Decisions of the SNB for any big movements. (sda)

Created: 21.03.2019, 10:30 a.m.

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