Market Updates: Swiss National Bank leaves expansionary monetary policy unchanged

As expected, the Swiss National Bank is keeping its monetary policy dovish, thereby maintaining price developments and supporting economic activity.

SNB Interest Rates

• Interest on sight deposits with the SNB remains unchanged at –0.75%
• The target range for the three-month Libor rate was also left unchanged –1.25% and –0.25%.

As per our forecast, the USD/CHF pair is heading north towards our take profit level of $0.9951. Now let’s move the stop loss at breakeven and enjoy the bullish rally.

Good luck!