Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Swiss Franc Rallies After SNB Leaves Interest Rates Unchanged

A fan of Swiss francsThe Swiss Franc rallied today after the Swiss National Bank kept monetary policy unchanged. However, the main reason for the Swissie’s rally was the market sentiment that favored safer currencies.

The SNB left interest Rates Unchanged at today’s meeting, with the sight deposit Rate staying at -0.75%. The central bank commented on the decision:

The expansionary monetary policy continues to be necessary given the latest international developments and the inflation outlook in Switzerland. The situation on the foreign exchange market is still fragile, and the Swiss franc has appreciated in trade-weighted terms. It remains highly valued.

The bank also lowered its projections for inflation and economic growth in 2019, 2020, and 2021.

USD/CHF sank from 0.9972 to 0.9914 as of 18:02 GMT today. EUR/CHF plunged from 1.0998 to 1.0963.

© NewsInspector for Forex News, 2019. | Permalink | No comment | Add to
Post tags: EUR/CHF, Franc, Interest Rates, Switzerland, USD/CHF

Feed enhanced by Better Feed from Ozh

This post first appeared on Forex News, Latest Forex News, please read the originial post: here

Share the post

Swiss Franc Rallies After SNB Leaves Interest Rates Unchanged


Subscribe to Forex News, Latest Forex News

Get updates delivered right to your inbox!

Thank you for your subscription