AGL 40.61 Increased By ▲ 2.07 (5.37%)
AIRLINK 128.49 Decreased By ▼ -1.01 (-0.78%)
BOP 6.16 Increased By ▲ 0.55 (9.8%)
CNERGY 4.05 Increased By ▲ 0.19 (4.92%)
DCL 8.40 Decreased By ▼ -0.33 (-3.78%)
DFML 40.85 Decreased By ▼ -0.91 (-2.18%)
DGKC 87.74 Decreased By ▼ -0.56 (-0.63%)
FCCL 34.29 Decreased By ▼ -0.71 (-2.03%)
FFBL 66.30 Decreased By ▼ -1.05 (-1.56%)
FFL 10.55 Decreased By ▼ -0.06 (-0.57%)
HUBC 108.58 Decreased By ▼ -0.18 (-0.17%)
HUMNL 14.45 Decreased By ▼ -0.21 (-1.43%)
KEL 4.64 Decreased By ▼ -0.11 (-2.32%)
KOSM 7.19 Increased By ▲ 0.24 (3.45%)
MLCF 42.40 Increased By ▲ 0.75 (1.8%)
NBP 61.90 Increased By ▲ 2.30 (3.86%)
OGDC 179.43 Decreased By ▼ -3.57 (-1.95%)
PAEL 25.85 Decreased By ▼ -0.40 (-1.52%)
PIBTL 6.05 Increased By ▲ 0.08 (1.34%)
PPL 146.25 Decreased By ▼ -0.45 (-0.31%)
PRL 23.89 Increased By ▲ 0.28 (1.19%)
PTC 16.20 Decreased By ▼ -0.36 (-2.17%)
SEARL 69.90 Increased By ▲ 1.60 (2.34%)
TELE 7.29 Increased By ▲ 0.06 (0.83%)
TOMCL 36.07 Increased By ▲ 0.12 (0.33%)
TPLP 7.81 Decreased By ▼ -0.04 (-0.51%)
TREET 15.35 Increased By ▲ 1.15 (8.1%)
TRG 50.49 Increased By ▲ 0.04 (0.08%)
UNITY 27.01 Increased By ▲ 0.26 (0.97%)
WTL 1.23 Increased By ▲ 0.02 (1.65%)
BR100 9,801 Decreased By -4.6 (-0.05%)
BR30 29,628 Decreased By -50 (-0.17%)
KSE100 92,160 Decreased By -144.5 (-0.16%)
KSE30 28,759 Decreased By -80.9 (-0.28%)

The Swiss franc was higher against the dollar in early trade on Monday after the SNB chairman said further interest rate rises were in the pipeline to fight inflation in remarks published over the weekend.
"The weak franc influences the prices of imported goods. We are therefore importing inflation and we have to watch that closely," Swiss National Bank Chairman Jean-Pierre Roth told newspaper SonntagsBlick in an interview.
"If we were to leave interest rates where they are in this period of good business cycle development, we would have to expect inflation in the long term. We thus have interest rate rises in the pipeline," Roth was quoted as saying.
The franc was 0.21 percent higher against the dollar at 1.2374 per dollar. Against the euro, the franc was down 0.01 percent at 1.5921 per euro, just above a 6-1/2-year low of 1.5983 per euro hit last week as low Swiss interest rates made the franc a funding currency for carry trades.
The SNB has left little doubt that it will continue to raise rates gradually, and with Swiss inflation way below the SNB's ceiling of 2 percent most analysts see no reason for the central bank to step up its pace of tightening.

Copyright Reuters, 2006

Comments

Comments are closed.