SNB Quarterly Bulletin: SNB will remain active in FX market as necessary

The Swiss National Bank just released its Quarterly Bulletin, with the key quotes found below:

• The Swiss National Bank (SNB) is maintaining its expansionary monetary policy, with the aim of stabilising price developments and supporting economic activity
• The SNB will remain active in the foreign exchange market as necessary, while taking the overall currency situation into consideration
• The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to make Swiss franc investments less attractive
• The SNB continues to anticipate an inflation rate of 0.3% for the current year. For 2018, the forecast has fallen slightly to 0.3%, from 0.4% in the previous quarter. For 2019, it now expects inflation of 1.0%, compared to 1.1% last quarter
• In its new baseline scenario for the global economy, the SNB anticipates that economic developments will remain favourable