8:00am NY Time CHF LIBOR Rate Forecast 0.25% Previous 0.25%
ACTION: n/a
SNB usually issues a target range of 1.00% on the 3-month short term Libor rate, or London Interbank Offered Rate, during this decision and the actual rate is the midpoint of the target, unless otherwise specified.
SNB is going to keep the 3-month libor rate at the current target level of 0.25%, as agreed by most analysts, and as a matter of fact, analysts agree that SNB will keep rates unchanged until mid 2010. As SNB is not in the habit of shocking the market, it is practically impossible for SNB to hike rates unexpectantly.
SNB will also release its monetary policy assessment report along with the rate decision, which will focus on future projections and monetary policy. This will probably move the market more than the actual rate decision as usual, because the rate decision deals with current market, but the assessment report deals with the future. We’ll listent o the report and hopefully jump into the market should this report be a surprise.
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