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Switzerland keeps interest rate target at 0.25 pct

The Swiss National Bank kept its key interest rate target at 0.25 percent Thursday, saying the economic climate wasn't right yet for a move in either direction.
/ Source: The Associated Press

The Swiss National Bank kept its key interest rate target at 0.25 percent Thursday, saying the economic climate wasn't right yet for a move in either direction.

The SNB's three-month interest rate band remains at zero to 0.75 percent, it said.

Switzerland's economic output is still expected to fall between 2.5 percent and 3 percent this year, with negative inflation of 0.5 percent, it said.

Measures aimed at preventing the Swiss franc from rising against the euro will continue, the SNB said.