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The Swiss National Bank goes Japanese
As expected, the Swiss National Bank maintained its ultra-accommodative monetary policy unchanged. The interest rate on sight deposits remains fixed at -0.75%, and the three-month Libor target range at -1.25% to -0.25%, as is the case since January 2015. It also indicates that it will continue to intervene as needed in the foreign exchange market. It still considers that the Swiss franc is "highly valued" even though the currency has depreciated slightly in value weighted by foreign trade. This is due to the strengthening of the dollar, while the franc hasn't changed much, remaining at a high level against the euro. ... (full story)