THE SWISS CENTRAL BANK KEPT THE RATE AT MINUS 0.75%
On Thursday, the next meeting of the Central Bank of Switzerland was held. Its participants decided not to make changes to the PREP, which is currently in effect. The key rate was kept at minus 0.75%. The results of the meeting coincided with the expectations of most experts. In a statement, the Swiss National Bank said that it is ready to conduct currency interventions, even though the Swiss Franc has recently shown a weakening. The central bank has released its forecast for the Swiss economy. The Central Bank expects that the current year will end with the growth of gross domestic product. It will be in the range of 2.5% to 3%. The country's inflation rate will be 0.2% by the end of the year. In 2022 and 2023, it will increase to 0.4% and 0.5%, respectively. Earlier it was reported that the Swiss economy fell by 2.9% in 2020. Such a sharp decline in GDP has not been observed in the country for the last 45 years. In the crisis year of 2009, the Swiss economy shrank by 2.1%.