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19.06.2014 10:49

Swiss National Bank’s interest decision: the SNB kept unchanged its interest rate close to zero

The Swiss National Bank (SNB) released its interest decision on Thursday:

  • The SNB kept unchanged its interest rate close to zero and reaffirmed its commitment to the minimum exchange rate of CHF1.20 per euro as expected by analysts;
  • The SNB said the he Swiss franc is still high;
  • The SNB will continue to enforce the minimum exchange rate with the utmost determination;
  • The SNB could purchase foreign currency in unlimited quantities and could add further measures if required.

The Swiss National Bank president Thomas Jordan said on Thursday:

  • The Swiss economy is facing an "extremely challenging" climate with weak growth in the euro area and a hesitant global recovery;
  • The SNB expect the moderate recovery in Switzerland;
  • The SNB will monitor the impact of the ECB's interest rate cut on Switzerland and the SNB will take the necessary measures if required.

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