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20 Jun 2013
SNB keeps interest rates unchanged in June
FXstreet.com (Barcelona) - The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.20 per euro on Thursday and is prepared to enforce it “if necessary, by buying foreign currency in unlimited quantities, and to take further measures, as required,” as it is stated in the official document released after the decision was made known.
The SNB explains that the CHF is still high, which adversely affects the Swiss economy, thus a further increase in the currency will not be permitted.
The target range for the three-month Libor rate was also maintained at 0.0–0.25%.
The SNB stated that the risks to the Swiss economy are mainly connected with the uncertain global economic situation, especially with the crisis developments in the Eurozone.
The SNB explains that the CHF is still high, which adversely affects the Swiss economy, thus a further increase in the currency will not be permitted.
The target range for the three-month Libor rate was also maintained at 0.0–0.25%.
The SNB stated that the risks to the Swiss economy are mainly connected with the uncertain global economic situation, especially with the crisis developments in the Eurozone.