SNB Restates Increased Resolve on Franc as Rate Held at Zero

The Swiss National Bank restated its heightened readiness to sell the franc as officials held back again from the more drastic step of cutting borrowing costs into negative territory.

Policymakers led by President Martin Schlegel left their benchmark at zero on Thursday for the third consecutive meeting, as predicted unanimously by economists. Officials kept up their commitment to sell the currency if required to prevent its gains from weighing too much on inflation.