Swiss government sees 2016 growth at 1.4% vs Dec 1.5%. 2016 inflation at -0.6% vs -0.1% expectations.
Swiss government sees 2017 growth at 1.8% vs 1.9% previous forecast. Inflation at +0.2% unchanged.
Swiss government says negative effects from FX expected to gradually diminish in course of 2016/2017.
On FX, The Morning After, Dovish Fed FOMC and Chair Janet Yellen; More Central Banks actions/inaction.
Fed Janet Yellen and FOMC manages to put market back to expectations that Fed will still look to hike 2 more times from 0 hikes according to some; April 26-27, June 14-15, Jul 26-27, Sep 20-21, Nocember 1-2, December 13-14 Fed FOMCs.
Good to note US Presidential election is November 8 2016.
USD/CHF at 0.9775-80, EUR/CHF at 1.0975-80, eye SNB MPS at 0830GMT. For any surprises from SNB Pres Thomas Jordan and Board. Bids at 1.0900 for EUR/CHF, offers 1.1000. Stops above 1.1020-25. USD/CHF bids at 0.9750/0.9700 - under pressure after dovish Fed. But SNB will be watching EUR/CHF, USD/CHF closely.