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SNB keeps minimum exchange rate unchanged in September

FXStreet (Łódź) - The Swiss National Bank decided to leave the minimum exchange rate unchanged at CHF 1.20 per euro on Thursday and “will continue to enforce it with the utmost determination,” as it is stated in the official document released after the decision was made known.

The target range for the three-month Libor rate was also maintained at 0.0–0.25%.

The SNB explained that the CHF is still high, which adversely affects the Swiss economy, thus a further increase in the currency will not be permitted. The economic outlook has deteriorated and risk of deflation increased, SNB pointed out.
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