Swiss National Bank cuts rates by 1 percentatge point

LONDON (MarketWatch) — The Swiss National Bank said it’s lowering its three-month Libor target range by one percentage point to a 0.5% to 1.5% range. The move “will provide the Swiss franc money market with a generous and flexible supply of liquidity in order to bring the Libor down to
the middle of the target range.” Price stability will be restored sooner than expected because of declines in the prices of raw materials and oil, and it noted international economic conditions have worsened appreciably.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Original post by Forextvblog

This entry was posted on Thursday, November 20th, 2008 at 5:34 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.