0 C
New York
Friday, January 28, 2022

Swiss National Bank leaves expansionary policy unchanged

Swiss National Bank leaves expansionary policy unchanged© Reuters. The Swiss National Bank (SNB) is pictured in Bern

By John Revill

BERN (Reuters) – The Swiss National Bank maintained its ultra loose monetary policy on Thursday, citing the “fragile” exchange rate situation.

The SNB kept its target range for the three-month London Interbank Offered Rate (LIBOR) at -1.25 to -0.25 percent, as unanimously forecast in a Reuters poll of economists.

The central bank also held the negative interest rate it charges on sight deposits at -0.75 percent, adding it remained ready to intervene in the foreign currency markets to block a rise in the Swiss franc.

Both measures have been employed by the SNB to stem investor appetite for the franc over the last three and-a-half years.

The SNB maintained its description of the franc as “highly valued,” and adding despite the currency’s weakening during 2018 the situation on the currency markets was “fragile.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles