Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

SNB leaves interest rate on hold at -0.75%

Published 12/10/2015, 03:33 AM
© Reuters.  Swiss National Bank leaves rates on hold
USD/CHF
-
EUR/CHF
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.