Investing.com – The Swiss National Bank on Thursday decided at its keenly awaited quarterly policy meeting to keep a key interest rate steady at 0.25%, as expected, despite its worries about inflation.
The central bank has been attempting to stop the Swiss franc from rising too fast since March last year.
Earlier Thursday, the Financial Times reported that currency traders had been building up bets on a rise in the Swiss franc in anticipation that the Swiss National Bank would soften its stance on currency intervention at the meeting.
Following the bank's decision, the Swissy pared losses against the U.S. dollar, bouncing to 1.0707, still gaining 0.08%.