Swiss SNB Policy Rate (Q3) -0.75% vs. Exp. -0.75% (Prev. -0.75%); CHF reiterated as ‘highly valued'

Remains willing to intervene in the foreign exchange market as necessary in order to counter upward pressure on the Swiss franc (prev. remains willing to intervene in the foreign exchange market as necessary while taking the overall currency situation into consideration). - see analysis
Mortgage lending and residential property prices have risen strongly in recent quarters. Overall, the vulnerability of the mortgage and real estate markets has increased further. The SNB regularly reassesses the need for the countercyclical capital buffer to be reactivated.
2021 GDP growth: ~3.0% (prev. ~3.5%)
2021 inflation: 0.5% (prev. 0.4%)