The EUR/CHF currency pair was confined in tight daily range on Thursday, trading above recent low of 0.9134, ahead of the outcome of the European Central Bank’s policy meeting.
The European Central Bank is largely expected to keep its main refinancing operations rate intact at 2.15% at its February 5th policy meeting.
And, the ECB deposit facility rate is expected to be kept at 2.00%.
In December, the ECB Governing Council reaffirmed its objective of bringing inflation back to the 2% target over the medium term and reiterated that rate decisions would continue to be taken on a meeting-by-meeting basis.
ECB President Lagarde emphasized that the central bank did not have a predetermined path for interest rates and, given the high degree of uncertainty, it could not provide forward guidance.
Investors also remained focused on the policy outlook for the Swiss National Bank against the backdrop of still subdued domestic inflation.
Earlier in the week, SNB Chairman Martin Schlegel underlined that maintaining price stability remained the central bank’s primary objective and emphasized the institution’s readiness to act if necessary to address inflation risks.
The EUR/CHF currency pair was last up 0.05% on the day to trade at 0.9176.
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