SNB keeps franc cap, ready to take further measures

The Swiss National Bank kept its cap on the franc at 1.20 per euro on Thursday, reiterating its commitment to defend the limit with currency interventions and take further measures immediately if necessary.

It kept its target range for the three-month Libor at 0.00-0.25 percent, as analysts polled by Reuters all expected.

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Valentin Flauraud | Bloomberg | Getty Images

The Swiss franc has strengthened towards the 1.20 threshold in recent weeks, fanning speculation about whether the central bank might take action to stem the currency's rise. The last time the SNB intervened to defend the cap was two years ago.

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