Home / Europe / Swiss National Bank keeps ultra-loose policy in place

Swiss National Bank keeps ultra-loose policy in place


A cyclist rides past the Swiss National Bank's headquarters in Bern, Switzerland.

Gianluca Colla | Bloomberg | Getty Images

A cyclist rides past the Swiss National Bank’s headquarters in Bern, Switzerland.

The Swiss National Bank maintained its ultra-loose monetary policy on Thursday in a bid to reduce upward pressure on the strong Swiss franc.

The SNB kept its target range for three-month Swiss franc LIBOR at -1.25 percent to -0.25 percent, and the rate it charges on sight deposits at -0.75 percent, as expected in a Reuters poll of economists.

It said it remained committed to negative interest rates and currency market interventions to rein in the Swiss franc, which it said remained “significantly overvalued”.

About admin

Check Also

Ericsson up 9% on AT&T network deal as Nokia plunges to three-year low

Ericsson recently announced it is planning to cut 8,500 jobs as part of its cost-cutting …