Fragility of forex market stays SNB’s hand
Central bank maintains Libor rate target and negative policy rate
The “fragile” situation surrounding Switzerland’s exchange rate prompted the Swiss National Bank to maintain its monetary policy stance at its last decision for 2018.
The SNB held its target range for the three-month London Interbank Offered Rate (Libor) at –1.25 to –0.25%. The rate has remained at this level since January 2015.
“The situation on the foreign exchange market continues to be fragile,” the central bank said in its statement.
While the franc has depreciated only slightly against
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