IMF: Swiss economic upturn to continue further

In its latest report on the Swiss economy, the International Monetary Fund (IMF) expressed its take on the Swiss National Bank’s (SNB) exchange rate strategy and monetary policy.

Key Highlights:

SNB intervention strategy has proved its worth.

IMF backs SNB negative rates and intervention policy.

Swiss economic upturn to continue further.

Strengthening global economy to energize Swiss economy.

Domestic outlook doesn't necessitate near-term SNB tightening.

SNB accommodative policy exit won't return tools to pre-crisis.

In response to the IMF report, the Swiss government came out with the following comments:

IMF advises continued monitoring of mortgage and real estate market.

IMF sees potential risks in Swiss mortgage and real estate markets.

IMF says SNB intervention and negative rates policy has proved its worth which has helped stabilize inflation and prevent excessive appreciation of the Franc.