Economics
SNB Keeps Rate on Hold as Japan Aftermath Strengthens Franc
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The Swiss central bank today kept borrowing costs near zero as policy makers assess increased global uncertainty that pushed the franc to a record in the aftermath of Japan’s earthquake.
The Zurich-based Swiss National Bank, led by Philipp Hildebrand, left its three-month Libor target rate at 0.25 percent. That’s in line with the forecasts of all 20 economists in a Bloomberg News survey. The SNB raised its forecast for economic growth and inflation in 2011.