On Dec 16th at 8.30GMT Libor released its Interest Rate Decision.
Previous value 0.25% Forecast 0.25%.
The LIBOR Rate (or the London Interbank Offered Rate) is a daily reference rate based on the interest rates at which banks borrow unsecured funds from other banks in the London wholesale money market (or interbank market).
The LIBOR rate is calculated by the British Bankers' Association (BBA) for different terms from 1 day up to 12 months for various currencies.
The British Bankers' Association (BBA) offers the rate as a daily service.
The Swiss National Bank (SNB) may keep the interest rate close to zero trying to restrain the Swiss Franc currency rate after the outbreak of the EU debt crisis threatening the economic recovery of Switzerland.
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This year the Swiss Franc has gained 16% against the Euro currency. It happened because investors became more worried about the possibility of the EU states to struggle with the financial crisis and preserve the Euro zone. In June the SNB stopped its currency market interventions. However, a strong Franc can undermine the export-oriented recovery of the Swiss economy and increase deflation risks.
The rate is published by the Swiss National Bank once a quarter. The next release will be on March 17th 2011.
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