Swiss central bank maintained its expansionary monetary policy and raised its inflation projections.
Policymakers of the Swiss National Bank retained the policy rate and interest on sight deposits at the SNB at -0.75 percent, as widely expected, on Thursday.
Despite the recent weakening, the Swiss franc remains highly valued, the bank observed. The bank said it is willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration.
The central bank forecasts consumer prices to rise 0.2 percent in 2021 instead of nil growth estimated in December.
Likewise, the inflation outlook for 2022 was revised to 0.4 percent from 0.2 percent. For 2023, inflation is seen at 0.5 percent.
The SNB expects the [economy][1] to grow in the range of 2.5 percent to 3 percent in 2021, unchanged from the previous projection.
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