SNB holds rates despite weaker growth outlook

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The Swiss National Bank (SNB) on Thursday agreed to hold monetary policy steady despite forecasts that show growth in the Swiss economy is expected to fall sharply next year.

At the press conference following the governing board meeting in Berne, Switzerland, the SNB reaffirmed its commitment to aim for a three-month Libor close to zero and maintain its currency floor at Sfr1.20 to the euro.

This was despite evidence that suggested the pace of growth in Switzerland slowed considerably in the

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