SNB’s Maechler: Economic outlook is fragile with downside risks

Speaking in Singapore on Thursday, Swiss National Bank (SNB) Governing Board member Andrea Maechler said that the Swiss economic outlook appears clouded, while maintaining that the Swiss franc remains heavily overvalued.

Key Quotes:

Economic outlook is fragile with downside risks

Factors driving inflation are temporary

Inflation still too low for our comfort

Negative interest rates are the pillar of SNB policy

CHF still heavily overvalued