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March 13, 2008 - Forex Economic News
Swiss National Bank holds interest rate steady.
The Swiss National Bank announced today its decision to keep its interest rate unchanged. The current Libor target range is 2.25-3.25 percent with the SNB holding the rate in the center of that range for a 2.75 percent rate. Accompanying the interest rate decision, the SNB release stated that, "The international environment will probably result in a slowdown in economic activity in Switzerland." The Bank said that it forecasts "GDP growth between 1.5% and 2% for 2008" and "forecasting an average rate of inflation of 2% for 2008." Read the statement here(pdf).
Tags: swizterland, chf, interest rate, snb, swiss national bank
