SNB keeps policy unchanged

Source: Dukascopy Bank SA
On June 17, the Swiss National Bank kept its monetary policy unchanged. In general, the markets expected the bank's decision and the Swiss Franc did not react to the news.

Quoting the statement: "The SNB is maintaining its expansionary monetary policy with a view to ensuring price stability and providing ongoing support to the Swiss economy in its recovery from the impact of the coronavirus pandemic. It is keeping the SNB policy rate and interest on sight deposits at the SNB at −0.75%, and remains willing to intervene in the foreign exchange market as necessary, while taking the overall currency situation into consideration"

Full Official Release

Monetary policy assessment of 17 June 2021

In the aftermath of the reveal, the USD/CHF currency exchange rate declined by 11 base points during a period of 30 minutes.

Initial Reaction

Larger scale situation

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