SNB's Martin (post-policy statement) says global economic growth was stronger than expected in the second quarter, remained resilient overall

In many countries, inflation remains above central banks’ targets, notably due to the higher energy prices. Anticipate that growth in the global economy will be moderate over the coming quarters. Although the high energy prices are likely to continue weighing on economic activity, an ongoing improvement in manufacturing momentum will provide support. Inflation is likely to remain elevated for some time. The baseline scenario remains subject to high uncertainty because of the situation in the Middle East. In addition, the trade policy environment also remains uncertain.