SNB board member Andrea Maechler said that the central bank is “not anywhere close to” normalization as “expansionary monetary policy is absolutely needed”. She added that “the negative rate of minus -0.75% and interventions are needed to relieve pressure on the franc as needed.”
The bank still see inflation “staying below 1%”, labor utilization “below what it can be”, and Franc “continues to be highly valued”, she said.
