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    SNB affirms -0.75% interest rate on sight deposits Dhwani Mehta

    The Swiss National Bank (SNB) kept the interest rate on sight deposits steady at -0.75% during its monetary policy assessment this Thursday. The SNB also kept the 3-month Libor target range unchanged at -0.25% to -1.2%.Key Headlines:Sees 2016 growth at 1.0-1.5 pct (previous forecast was for 1.0-1.5 pct)Sees 2016 inflation at -0.4 pct (previous forecast was for -0.8 pct)Sees 2017 inflation at 0.3 pct (previous forecast was for 0.1 pct)Expects the moderate growth in the global economy to sustain over the coming quartersSwiss Franc is still significantly overvaluedImminent UK referendum on whether to stay in the European Union may cause uncertainty and turbulence to increaseIndicators suggest that the recovery will be ongoingExports are likely to continue to recover

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