MNI BRIEF: SNB Leaves Key rate Unchanged At Zero

The Swiss National Bank left its key policy rate unchanged at 0% on Thursday, in line with expectations. (See MNI SNB WATCH: Rates Seen On Hold At Zero)

In the statement, the SNB said banks' sight deposits will be remunerated at the policy rate up to a certain threshold, while the discount for sight deposits above this threshold still stands at 0.25 percentage points.

Addressing franc strength, the SNB said it  remains willing to be active in the foreign exchange market as necessary. The board said inflationary pressure was virtually unchanged compared to the previous quarter. 

In a first, the SNB will publish the minutes of the meeting in four weeks, though analysts remain unsure how much further detail will be added to the policy statement and the post-decision press conference.