Crisis revealed SNB rate policy strength: Roth

The Swiss National Bank's (SNB) unique monetary policy proved useful in staving off a worsening of credit conditions in the wake of the financial crisis, Jean-Pierre Roth, the chairman of the central bank's governing board, has said.

The SNB's rate policy targets the three-month London Interbank Offered Rate (Libor) for Swiss francs. Most central banks' policy rates target overnight borrowing costs.

"By keeping the Libor well under control, we have managed to shelter the Swiss market from the

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