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 "despite depreciating somewhat in recent months, the Swiss franc is still significantly overvalued."
The SNB will "remain active in the foreign exchange market in order to influence the exchange rate situation, as necessary."
SNB Chairman Thomas Jordan was to comment on the decision at a press conference later in the day.
EUR/CHF was trading at 1.0806 from around 1.0829 ahead of the decision, while USD/CHF was at 0.9835 from 0.9863 earlier.