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GDP and Inflation Forecasts Nudged Higher by SNB, As Expected

SNB

Nothing too material in the monetary policy release from the SNB and CHF largely unmoved:

"In the short term, the new conditional inflation forecast is higher than in June, mainly due to a rise in oil prices. The longer-term inflation forecast is unchanged

"This year, GDP is set to shrink by around 5%. This would be the strongest decline since the crisis in the mid-1970s. At its last monetary policy assessment, the SNB had expected an even stronger decline."

Full Monetary Policy Assessment here: https://www.snb.ch/en/mmr/reference/pre_20200924_1...

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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