The Swiss National Bank announced today that it will maintain the current Libor target rate at 0.25 percent. The Bank also noted that it would begin to wind down its practise of buying corporate bonds as part of its stimulus spending program.
“We expect the bank to wait until the end of next year before raising interest rates,” said Ulrike Rondorf, an economist at Commerzbank AG in Frankfurt. “Prior to this, it will no doubt scale down its quantitative easing. The first step in this direction has been taken today.”
