Investing.com - The Swiss National Bank kept its benchmark interest rate unchanged in March and reaffirmed its commitment to the minimum exchange rate of CHF1.20 per euro, it announced on Thursday.
In a statement, the SNB said it was keeping its benchmark interest rate unchanged at 0.0%, in line with expectations.
The accompanying rate statement released after the announcement said that the Swiss franc is “still high.” The SNB “stands ready to enforce the minimum exchange rate, if necessary, by buying foreign currency in unlimited quantities, and to take further measures as required.”
SNB Chairman Thomas Jordan was to comment on the decision at a press conference later in the day.
Following the decision, the Swiss franc was modestly lower against the U.S. dollar, with USD/CHF easing up 0.1% to trade at 0.8818.
Meanwhile, the Swissie was lower against the euro, with EUR/CHF adding 0.05% to trade at 1.2191.