The SNB will remain active in the foreign exchange market as necessary - SNB quarterly bulletin

Key highlights from the Swiss National Bank's quarterly bulletin:

• The SNB will remain active in the foreign exchange market as necessary while taking the overall currency situation into consideration
• The SNB’s expansionary monetary policy is aimed at stabilizing price developments and supporting economic activity
• The Swiss franc is still significantly overvalued
• The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to make Swiss franc investments less attractive, thereby easing pressure on the currency
• The global economy expanded in line with expectations in the fourth quarter
• Indicators available at the beginning of the year suggest the outlook for the global economy will continue to improve
• Given favorable economic developments internationally, the outlook for Switzerland’s economy is cautiously optimistic
• Overall, the SNB continues to expect GDP growth of roughly 1.5% for 2017
• The forecast for Switzerland, too, is marked by considerable uncertainty emanating from international risks