SNB holds despite recent ECB and Fed easing measures

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The Swiss National Bank has kept interest rates unchanged, and restated its commitment to intervening in foreign exchange markets to prevent the appreciation of the franc.

In its monetary policy assessment today (September 19), the SNB also modified its tiering system to better protect the banking sector from the side effects derived from negative interest rates.

As the central bank reduced inflation and growth forecasts, most analysts think rate-setters plan to cut rates in the coming months.

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