Swiss franc inches up after SNB keeps rates unchanged, tweaks forecasts

[LONDON] The Swiss franc inched up against the euro and the dollar on Thursday after the Swiss National Bank kept interest rates unchanged at -0.75 per cent and slightly tweaked its economic forecasts.

The SNB said it expected inflation for this year to be -1 per cent, compared with -1.1 per cent previously.

The euro, which was trading 0.2 per cent lower against the Swiss franc before the SNB statement, weakened and turned flat on the day. It was at 1.0450 francs, compared with US$1.04635 just before the SNB rate decision and economic forecasts.

The dollar was down 0.3 per cent at 0.9194 francs, compared with 0.9213 francs beforehand.

The Swiss 10-year government bond yield edged up to 0.146 per cent from 0.131 per cent beforehand.

REUTERS