Investing.com - The Swiss National Bank on Thursday held its benchmark interest rate steady, in a widely expected decision.
The central bank left its London Interbank Offered Rate, or Libor, at 0.25%.
The move came after the SNB had been forced to step up foreign-currency purchases to counter the Swiss franc’s gain, bolster exports and limit deflation risks, as Switzerland’s economy strengthened.
Following the decision, the Swissy was up against the U.S. dollar, with USD/CHF shedding 0.54% to reach 1.1251.
The central bank left its London Interbank Offered Rate, or Libor, at 0.25%.
The move came after the SNB had been forced to step up foreign-currency purchases to counter the Swiss franc’s gain, bolster exports and limit deflation risks, as Switzerland’s economy strengthened.
Following the decision, the Swissy was up against the U.S. dollar, with USD/CHF shedding 0.54% to reach 1.1251.