SNB leaves policy rate unchanged at -0.75%, as expected

• SNB leaves policy rates unchanged at -0.75% at its quarterly policy review on Thursday.
• The decision did little to influence the Swiss franc or provide any impetus to USD/CHF.

The Swiss National Bank (SNB) announced its latest monetary policy decision this Thursday and left its sight deposit interest rate unchanged at -0.75%.

The SNB was universally expected to maintain status-quo and the announcement did little to provide any impetus to the Swiss franc. The USD/CHF pair held steady near multi-month tops, around the 0.9370-75 region and remained well supported by sustained US dollar buying.