March 12 (Reuters) - The Swiss National Bank narrowed its target band for the 3-month Swiss franc LIBOR to 0.00-0.75 percent from 0.00-1.00 percent. It now aims for the lower end of the range or 0.25 percent, a level it previously reached only during a recession in 2003.
Following is a chronology of the SNB's interest rate moves since it switched to the target band system in 2000.
DATE TARGET BAND
(PCT)
TIGHTENING
February 3, 2000 1.75 - 2.75
March 23, 2000 2.50 - 3.50
June 15, 2000 3.00 - 4.00
EASING
March 22, 2001 2.75 - 3.75
September 17, 2001 2.25 - 3.25
September 24, 2001 1.75 - 2.75
December 7, 2001 1.25 - 2.25
May 2, 2002 0.75 - 1.75
July 26, 2002 0.25 - 1.25
March 6, 2003 0.00 - 0.75
TIGHTENING
June 17, 2004 0.00 - 1.00
September 16, 2004 0.25 - 1.25
December 15, 2005 0.50 - 1.50
March 16, 2006 0.75 - 1.75
June 15, 2006 1.00 - 2.00
September 14, 2006 1.25 - 2.25
December 14, 2006 1.50 - 2.50
March 15, 2007 1.75 - 2.75
June 14, 2007 2.00 - 3.00
September 13, 2007 2.25 - 3.25
EASING
October 8, 2008 2.00 - 3.00
November 6, 2008 1.50 - 2.50
November 20, 2008 0.50 - 1.50
December 11, 2008 0.00 - 1.00 March 12, 2009 0.00 - 0.75
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