The Swiss National Bank (SNB) decided to keep interest rates unchanged at -0.75% at its meeting today. The following are the highlights of the monetary policy statement:
The Swiss economy grew at a slower pace than expected during the second quarter of 2017 as the growth in the financial sector and hotels was offset by weak growth in both trade and public administration. On a quarterly basis, GDP grew by 0.3%, below expectations of 0.5% growth, while the economy grew by 0.1% in the first quarter of 2017.
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