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As on Dec 13, 2018 12:00 AM Your results on : Currency News    
Economic Buzz: SNB Keeps Rates Negative, Expects Gradual Slowdown In Global Economy Over Medium Term
13-Dec-2018 (16:17)

Switzerland's central bank left its negative interest rate unchanged and trimmed its inflation forecast for next year as it cited a strong franc and downside risks to the economy that could arise from a global slowdown. The Swiss National Bank left its interest on sight deposits unchanged at -0.75 percent and the target range for the three-month Libor between -1.25% and -0.25%.

In the short term, the world economy is set to continue to expand somewhat above potential, benefiting from the clear improvement in the labour market situation and the ongoing expansionary monetary policy in the advanced economies. However, a gradual slowdown is likely in the medium term.

Nevertheless, there are significant risks to this positive baseline scenario, primarily in connection with political uncertainties and protectionist tendencies. These factors have had an increasingly negative effect on both business and financial market sentiment in recent months. Stronger turbulence could jeopardize global economic growth and have an impact on monetary policy.

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Economic Buzz: India Industrial Production Grows 8.1% In October
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Economic Buzz: Australia AiG Construction Sector Continues To Contract In November
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