"The Swiss National Bank (SNB) is maintaining its expansionary monetary policy. Interest on sight deposits at the SNB is to remain at –0.75% and the target range for the three-month Libor is unchanged at between –1.25% and –0.25%. … The SNB’s expansionary monetary policy is aimed at stabilising price developments and supporting economic activity," the press release said.
The SNB plans to stay actively engaged in the foreign exchange market, at the same time considering the overall currency situation, according to the press release.
"The negative interest rate and the SNB’s willingness to intervene in the foreign exchange market are intended to make Swiss franc investments less attractive, thereby easing pressure on the currency," the SNB said.
The SNB predicted the continuation of the moderate global growth trend in 2017, despite "a multitude of political uncertainties" including the future economic course of the United Stated, upcoming elections in a number of the European countries, Brexit and other issues.
