March 19, 2020 / 8:43 AM / 10 days ago

Swiss National Bank boosts FX interventions to slow franc rise

ZURICH, March 19 (Reuters) - The Swiss National Bank (SNB) said on Thursday it was stepping up its currency interventions to prevent the rise of the Swiss franc, which the central bank said had become “even more highly valued” due to the coronavirus outbreak.

The SNB kept its policy rate at -0.75% and also maintained the interest rate it charges on overnight deposits it holds for commercial banks at -0.75%, as forecast in a Reuters poll.

The SNB said it was working closely with the Swiss government to support for the country’s economy against the slowdown triggered by the coronavirus outbreak. (Reporting by John Revill)

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