The SNB has nearly doubled its currency holdings to shield the country from the fallout caused by the Eurozone debt crisis, Bloomberg News reports.
The central bank did lower its inflation forecast on Thursday.
“The inflation path is being shifted down, but overall the picture stays the same,” said Alexander Koch, an economist at UniCredit, in the Bloomberg article. “Since the cap was set in 2011, their stance has been relatively unchanged. They’ve made clear that the ceiling is not for fine-tuning, and I expect the SNB’s stance to continue.”
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