Swiss Central Bank kept the rate at minus 0.75%

A regular session of the country’s Central Bank took place in Switzerland. The regulation made a decision on the base rate. It was kept at the present grade of minus 0.75%. The three-month Libor rate was also left in the existing corridor from minus 1.25% to minus 0.25%. The Swiss Central Bank is ready to intrude in the foreign exchange market if the pressure on the franc boost. The Swiss Central Bank raised its inflation prognosis. Now he expects that this year it will be 0.6%, up 0.1 percentage points higher than the previous prognosis. Next year, the price increment rate will accelerate to 1%. Earlier, the Central Bank expected a boost in the inflation rate next year to 0.7%. In 2023, the expense growth rate in the country will slow down to 0.6%. These prognosis assume that the stand proportion will remain at minus 0.75%. The Swiss central bank said the economy will continue to restore. This year is likely to end with 3.5% GDP growth.

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Arseny Kudrin

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