SNB to remain active in FX market to influence monetary conditions
- CHF rate is still high, clearly overvalued
- uncertainty of global economy remains high
- situation in Greece could jeopardize recovery
- demand upturn to cushion exchange rate shock somewhat
- sees return to positive growth in H2
- 2015 GDP forecast 1% vs "just under" 1% prev
- 2015 CPI -1.0% vs -1.1% prev
- 2016 CPI -0.4% vs -0.5% prev
- 2017 CPI +0.3% vs -0.4% prev
USDCHF a tad lower at 0.9194 EURCHF 1.0449 with Jordan's presser still to come at the top of the hour
Full statement from the SNB site here
