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The SNB kept policy rate unchanged at -0.75% Thursday, as it pledged to intervene in the foreign exchange market as necessary to counter upward pressure on the "highly valued" Swiss franc. September's inflation forecast was revised upwards slightly from June, attributed to rising oil prices and supply bottlenecks. The new forecast is 0.5% for 2021, 0.7% for 2022, and 0.6% for 2023. The SNB expects GDP growth of around 3% for 2021, down from 3.5%.