SNB: Pledges to intervene in FX if needed, CHF still overvalued

Headlines crossing the wires from the SNB statement, after the bank stood pat on its interest rates decision today.

Key Headlines from the statement:

SNB pledges to intervene in FX if needed

CHF still overvalued;

Maintain growth forecasts for 2016/17 at 1.5%

SNB expects 2018 inflation of 0.5% (prev. estimate 0.6%)