Yahoo Finance SNB leaves key rate on hold
Investing.com - The Swiss National Bank left its benchmark interest rate unchanged at record-low levels and reiterated that it is still prepared to take further action to weaken the franc, it announced on Thursday.
In a statement, the SNB said it was keeping its benchmark interest rate unchanged at -0.75%, in line with expectations. The central bank also left the target range for the three-month Libor unchanged at between -1.25% and -0.25%.
The accompanying rate statement released after the announcement said that "the Swiss franc is still significantly overvalued."
The SNB added that it will "remain active in the foreign exchange market, as necessary," while taking the overall currency situation into consideration.
EUR/CHF was trading at 1.0882 from around 1.0877 ahead of the decision, while USD/CHF was at 0.9729 from 0.9725 earlier.
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