The Swiss National Bank (SNB) released its Quarterly Bulletin on Wednesday. The central bank noted that the Swiss franc is still overvalued. The SNB expects the Swiss economy to regain momentum in the second half of the year and the Swiss GDP to grow under 1% this year, while business confidence picked up.
According to Quarterly Bulletin, in the second quarter, consumer price inflation is expected to be - 0.6% in six to twelve months, compared with −1.3% in the previous quarter.
In the second quarter, inflation forecasts for the next three to five years is expected to be 0.5%, up from the previous quarter's forecast of 0.4%.
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