19 Jun 2014
SNB keeps franc cap at 1.20 per euro
FXStreet (Łódź) - The Swiss National Bank decided to keep the minimum exchange rate unchanged at CHF 1.20 per euro on Thursday and “will continue to enforce it with the utmost determination,” according to the press release.
The target range for the three-month Libor rate was maintained at 0.0–0.25%.
The SNB said that the CHF is still high and "with a three-month Libor close to zero, the minimum exchange rate continues to be the right tool to avoid an undesirable tightening of monetary conditions in the event of renewed upward pressure on the Swiss franc."
The target range for the three-month Libor rate was maintained at 0.0–0.25%.
The SNB said that the CHF is still high and "with a three-month Libor close to zero, the minimum exchange rate continues to be the right tool to avoid an undesirable tightening of monetary conditions in the event of renewed upward pressure on the Swiss franc."