June 15, 2017 / 7:40 AM / a month ago

Swiss National Bank keeps ultra-loose policy in place

1 Min Read

ZURICH, June 15 (Reuters) - The Swiss National Bank maintained its ultra-loose monetary policy on Thursday in a bid to reduce upward pressure on the strong Swiss franc.

The SNB kept its target range for three-month Swiss franc LIBOR at -1.25 percent to -0.25 percent, and the rate it charges on sight deposits at -0.75 percent, as expected in a Reuters poll of economists.

It said it remained committed to negative interest rates and currency market interventions to rein in the Swiss franc, which it said remained "significantly overvalued".

Reporting by Joshua Franklin and John Revill; Editing by Michael Shields

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