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SNB leaves its policy rate unchanged at.........>

SNB
SNB: SNB leaves its policy rate unchanged at -0.75% as unanimously expected.
- Inflation forecasts have generally been lowered by 0.1-0.2ppt throughout the
forecast horizon.
- The SNB note that the Swiss franc "remains highly valued, and the situation on
the foreign exchange market is still fragile" but also notes that the exchange
rate is "practically unchanged compared with September 2019".
- Other highlights of the statement:
- "Risks to the global economy remain tilted to the downside." - As previously
- "Imbalances persist on the mortgage and real estate markets"..."The SNB will
continue to monitor developments on the mortgage and real estate markets
closely, and will regularly reassess the need for an adjustment of the
countercyclical capital buffer." - Again this was in the statement last time
too.

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