SNB steers rates on a steady course, USD/CHF renews 3-month lows

At its December quarter monetary policy assessment held this Thursday, the Swiss National Bank (SNB) board members decided to leave the monetary policy settings unchanged.

The SNB left the benchmark sight deposit rate unchanged at -0.75%.

The central bank maintained the 3-Month Libor Target Range steady between -1.25% to -0.25%, as widely expected.

In reaction to the SNB’s status-quo, the Swiss franc ticked a few pips higher, with USD/CHF renewing three-month lows at 0.9813.

About SNB Rate Decision

The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.