BERN Dec 15 The Swiss National Bank stuck to its monetary policy guns on Thursday when it kept interest rates at record low levels to keep a lid on the "significantly overvalued" Swiss franc.
As expected, the central bank said it was keeping the target band for 3-month Libor at -0.25 to -1.25 percent and the interest rate it charges on sight deposits at -0.75 percent.
"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 in a statement. (Reporting by John Revill and Silke Koltrowitz; Edoting by Michael Shields)
UPDATE 1-Brazil's BNDESPar calls JBS shareholder meeting to shuffle board
SAO PAULO, June 26 The investment arm of Brazil's state development bank BNDES has convened a JBS SA shareholder meeting to remove the controlling Batista family from the meatpacker's management and board, in the latest twist involving the world's No. 2 food processor.