SNB reaffirms franc cap, holds rates close to zero
From uk.reuters.com
The Swiss National Bank kept its cap on the Swiss franc at 1.20 per euro on Thursday, saying there was a danger of greater volatility on the financial and foreign exchange markets. The SNB stuck to a target band for the Swiss franc LIBOR of 0 to 0.25 percent, as all economists in a Reuters poll had forecast. The SNB kept its growth forecast for the year at 2.0 percent and slightly raised its inflation forecast for 2014 to 0.1 percent from a previous 0.0 percent. The SNB imposed the lid on the safe-haven unit in September 2011, citing the risk of deflation and a recession as the strong currency squeezed exporters and ...
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