Investing.com - The Swiss National Bank kept its benchmark interest rate unchanged in March 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”.
Following the release of the data, the Swiss franc was modestly lower against the U.S. dollar, with USD/CHF easing up 0.03% to trade at 0.9527.
Meanwhile, the Swissie was little changed against the euro, with EUR/CHF adding 0.05% to trade at 1.2351.
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”.
Following the release of the data, the Swiss franc was modestly lower against the U.S. dollar, with USD/CHF easing up 0.03% to trade at 0.9527.
Meanwhile, the Swissie was little changed against the euro, with EUR/CHF adding 0.05% to trade at 1.2351.