Investing.com - The Swiss National Bank kept its benchmark interest rate unchanged in September and reaffirmed its commitment to the minimum exchange rate of CHF1.20 per euro with the utmost determination, it announced on Thursday.
In a statement, the SNB said it was keeping its benchmark interest rate unchanged at 0.0%, in line with expectations.
The accompanying rate statement released after the announcement said that the SNB “will continue to enforce the minimum exchange rate of CHF 1.20 per euro with the utmost determination”.
The central bank “remains committed to buy foreign currency in unlimited quantities for this purpose”.
The statement added that even at the current rate, the Swiss franc is still high.
The statement added that, if necessary, the central “stands ready to take further measures at any time”.
Following the release of the data, the Swiss franc was little changed against the U.S. dollar, with USD/CHF trading flat at 0.9372. Meanwhile, the Swissie was modestly lower against the euro, with EUR/CHF easing up 0.1% to trade at 1.2099.
In a statement, the SNB said it was keeping its benchmark interest rate unchanged at 0.0%, in line with expectations.
The accompanying rate statement released after the announcement said that the SNB “will continue to enforce the minimum exchange rate of CHF 1.20 per euro with the utmost determination”.
The central bank “remains committed to buy foreign currency in unlimited quantities for this purpose”.
The statement added that even at the current rate, the Swiss franc is still high.
The statement added that, if necessary, the central “stands ready to take further measures at any time”.
Following the release of the data, the Swiss franc was little changed against the U.S. dollar, with USD/CHF trading flat at 0.9372. Meanwhile, the Swissie was modestly lower against the euro, with EUR/CHF easing up 0.1% to trade at 1.2099.