The Swiss National Bank (SNB) released its Quarterly Bulletin. The central bank expects the Swiss GDP to grow under 1% this year, and unemployment is expected to rise. The SNB noted that GDP could decline in the first quarter of 2015.

According to Quarterly Bulletin, consumer price inflation is expected to be - 1.3% in six to twelve months. Inflation forecasts for the next three to five years were downgraded to 0.5% from 1.1%.