September 19, 2019 / 7:36 AM / 3 months ago

Swiss National Bank bucks cutting trend and keeps rates frozen

ZURICH, Sept 19 (Reuters) - The Swiss National Bank kept its ultra-expansive monetary policy in place on Thursday, declining to match the European Central Bank and the U.S. Federal Reserve in cutting interest rates to tackle a global economic slowdown.

The SNB kept its policy rate unchanged at -0.75%, as expected by most analysts in a Reuters poll. It maintained the rate it charges on commercial banks’ sight deposits at -0.75%.

The central bank also pledged to remain active in the currency markets to ease upward pressure on the safe-haven franc, which has hit two-year highs against the euro following concerns about the global trade war and political uncertainty in Europe. (Reporting by John Revill; Editing by Michael Shields)

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