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.