SNB Keeps Libor Unchanged, Reiterates Pledge to Keep Ceiling
The Swiss franc was flat today against the US dollar and fell versus the Japanese yen after the Swiss National Bank maintained its main Libor interest rate and reiterated the pledge to keep the cap on the currency.
Even at the current rate, the Swiss franc is still high. Another appreciation would have a serious impact on both prices and the economy in Switzerland. The SNB will not tolerate this.
Jordan also stated that the crisis in Europe is a major threat to the Swiss economy.
USD/CHF was near its opening level of 0.9557 as of 12:08 GMT today, while CHF/JPY fell from 83.06 to 82.89.
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Earlier News About the Swiss Franc:
- Franc Gains vs. Dollar, Tests Resolve of SNB to Keep Ceiling (2012-06-13)
- Franc Rebounds After Weber's Comments (2012-05-29)
- Spike of EUR/USD Leads to Speculation About SNB Intervention (2012-05-25)
- Swiss Franc Gains, SNB Ready to Maintain Ceiling (2012-04-12)
- Franc Fluctuates Near Ceiling (2012-04-06)