SNB Q4 2014 bulletin – Reaffirms minimum exchange rate

  • Deflation risks have increased once again
  • Revised down inflation forecast to 0.0% from +0.1% for 2014 -0.1% from +0.2% 2015, +0.3% from +0.5% 2016
  • Q3 growth unexpectedly favourable, driven by exports

There’s not much new in this than we heard from the monetary policy meeting earlier this month. The full bulletin is here

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