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SNB keeps minimum exchange rate unchanged in December

By FXstreet.com,  December 13, 2012, 03:42:00 AM EDT

FXstreet.com (Barcelona) - The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.20 per euro on Thursday and "will continue to enforce it with the utmost determination," as it is stated in the official document released after the decision was made known.

The SNB explains that the CHF is still high, which adversely affects the Swiss economy, thus a further increase in the currency will not be permitted.

The target range for the three-month Libor rate was also maintained at 0.0-0.25%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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