Swiss National Bank Keeps Interest Rates On Hold

(RTTNews) - The Swiss central bank has left its key interest rate, the three-month Libor, unchanged at 0.25%, citing heightened uncertainty in financial markets and contained inflationary pressures.

Renewed sovereign debt concerns in the eurozone had led to a further appreciation in the Swiss franc as investors flocked to the currency as a safe haven, the SNB said.
The bank said the Swiss economy was likely to slowdown significantly in the coming quarters due to weakening exports.
The economy was forecast to slow to 1.5% in 2011, following growth of about 2.5% this year.