Swiss central bank maintains cap on currency

Posted by Forexsq 594 days ago (http://www.marketwatch.com)
img Switzerland's central bank on Thursday reaffirmed its willingness to buy unlimited amounts of foreign currency to keep the Swiss franc EURCHF -0.10% from appreciating against the euro. "The Swiss National Bank is leaving the minimum exchange rate of CHF1.20 per euro unchanged. The Swiss franc is still high," the central bank said. The SNB said it would continue "to enforce the minimum exchange rate with the utmost determination." The SNB also left its target for three-month Libor at 0% to 0.25% and said it was ready, if necessary, "to take further measures at any time." The SNB pronouncements weren't unexpected. The euro slipped 0.1% versus the franc to trade at CHF1.2091 in recent trade.

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