Swiss National Bank cuts growth outlook, keeps key rate unchanged

The SNB's target range for the franc's three-month London interbank offered rate (Libor) would remain unchanged at 0-0.25 percent, a bank spokesman said in a conference call with reporters.

The Swiss central bank also said that “as a result of the deterioration in the global economic outlook” and slight negative growth in the second quarter, it now expected the country's gross domestic product (GDP) for 2012 to tick in at 1 percent, compared to its previous estimate of 1.5 percent.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Philippine central bank raises CPI forecasts, doesn't change policy rate

NEXT ARTICLE
Group of 20 economies slow down, eurozone contracts in Q2: OECD

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit