Remains prepared to intervene in markets if needed

Risks to the global economy remain tilted to the downside

Franc remains highly valued; FX market remains fragile

Willing to intervene in FX market as necessary, while taking overall currency situation into consideration

Negative rates and willingness to intervene should counteract attractiveness of the franc and ease upward pressure on the currency

2019 GDP forecast seen at around 1.0% (previously 0.5% to 1.0%)

2020 GDP forecast seen between 1.5% to 2.0%

2019 inflation forecast seen at 0.4% (unchanged)

2020 inflation forecast seen at 0.1% (previously 0.2%)

2021 inflation forecast seen at 0.5% (previously 0.6%)