SNB set to keep rates low and maintain floor

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The Swiss National Bank (SNB) is "likely" to continue its expansionary monetary policy into 2012 due to concerns about the fragility of the global economy and the strength of the Swiss franc, according to the central bank's annual report, published today (April 5).

The Swiss economy grew by 1.9% in 2011, down from the 2.7% growth rate it achieved in 2010, according to the annual report of the central bank. Nonetheless, the Swiss National Bank referred to growth last year as "fairly impressive"

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