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SNB Keeps Rate at Record Low as Inflation Forecasts Trimmed

  • Survey predicted deposit rate would be held at minus 0.75%
  • Central bank has used interventions to limit franc’s appeal
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The Swiss National Bank kept interest rates unchanged at record lows, citing the strong currency and an absence of price pressures.

In a move predicted by all 26 economists in a Bloomberg survey, the central bank held its deposit rate at minus 0.75 percent on Thursday. It also affirmed its commitment to wage currency market interventions and reiterated that the franc was “significantly overvalued.”