-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI REVIEW: SNB Leaves Rates Unchanged as Key Forecasts Cut
By Luke Heighton
FRANKFURT (MNI) - The Swiss National Bank kept monetary policy unchanged
Thursday, citing weaker growth and inflation outlooks abroad.
The SNB lowered its 2019 growth forecast from 0.5% to 0.3% in the previous
quarter, foreseeing inflation of only 0.6% in 2020, down from a previous 1.0%.
However inflation is predicted to reach 1.2% in 2021.
Annual growth for 2018 was described as "robust" at 2.5%, while
unemployment fell to 2.4% in February.
"After stagnating in the second half of 2018, GDP growth is thus likely to
pick up again somewhat. For 2019 as a whole, the SNB continues to expect GDP to
expand by around 1.5%," the bank added.
The Swiss franc remains "highly valued" despite depreciating slightly since
December 2018, the bank said, "and the situation on the foreign exchange market
continues to be fragile."
Overall, the SNB stated, "global economic activity has weakened more than
expected in recent months. Growth was curbed in part by temporary factors.
However, the underlying momentum in many advanced economies also slowed.
"Economic and political uncertainty increased volatility and risk premia on
the financial markets at the end of 2018. In addition, growth and inflation in
some countries was again weaker than generally anticipated. Both led to lower
expectations regarding policy rates in the major currency areas."
The SNB said it would continue to monitor imbalances in the mortgage and
real estate markets, with strong price rises in recent years and growing vacancy
rates increasing the risk of a correction.
--MNI Frankfurt Bureau; +49-69-720-146; email: luke.heighton@marketnews.com
--MNI London Bureau; +44 203 865 3829; email: jason.webb@marketnews.com
[TOPICS: MT$$$$,MX$$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.