The EUR/CHF currency rose by 26 base points or 0.23% to continue the trading session nearing the 1.1480 area, after the Swiss National Bank announced its interest rate decision. The weakening against the Euro was a positive sign for the Central Bank, indicating that the Franc slightly diminished its over-valuation.
The Swiss National Bank reported that its key interest rate remained unchanged at -0.75%, and, in the meantime, softened its stance concerning the Franc's strong performance. However, the SNB is likely to continue focusing on the EU, as it will be seeking the European Central Bank to take action of removing some of the monetary stimulus before considering any changes in its own policy.
| Historical Data Table: SNB Interest Rate Decision | |||||
| Date | 15.09.2017 | 15.12.2016 | 16.03.2017 | 15.06.2017 | 14.09.2017 |
| Actual | -0.75% | -0.75% | -0.75% | -0.75% | -0.75% |
| Forecast | -0.75% | -0.75% | -0.75% | -0.75% | -0.75% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/CHF | 0.77216 | 0.77324 | 0.14% | ||
| EUR/CHF | 1.14662 | 1.14924 | 0.23% | ||
| GBP/CHF | 1.27504 | 1.27556 | 0.04% | ||
| USD/CHF | 0.96441 | 0.96531 | 0.09% | ||