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SNB keep the policy rate unchanged at -0.75%, as expected.
Monetary Policy Assessment here: https://www.snb.ch/en/mmr/reference/pre_20210617_2...
- CPI seen topping out at 1.0% in Q4 (Prev. 0.6%) this year, before drifting lower across the forecast horizon
- Retains comms that "The Swiss franc remains highly valued."
- Continues to assume H2 recovery
- Flags that vulnerability of mortgage & real estate market has increased further