Swiss central bank keeps monetary policy unchanged

The Swiss National Bank (SNB) has decided to maintain it monetary policy as it is, pointing out it will remain active in the foreign exchange market in order to bring down the value of the national currency.
After a quarterly analysis of economic and monetary situation in the country, the Bank of Switzerland, which made a decision on 15 January 2015 to abandon the policy of tying the franc to the value of the euro, kept its target range for the three-month Libor rate at -1.25 to -0.25%, as analysts expected.
SNB officials also confirmed that the interest rate applied to banks' deposits with the central bank would remain at -0.75%, Reuters reports.
- The franc is noticeably overrated, and the central bank will pay attention to the impact of strong domestic currency on inflation and implement its policy accordingly, meaning that it will intervene in the currency market if monetary circumstances demand so - SNB said in a release.

Swiss National Bank

SNB

franc

Swiss franc

central bank of Switzerland

Swiss central bank

Libor

interest rate