Swiss treasury will hold November bond auction

ZURICH: Switzerland will hold a federal bond auction on Nov. 14, its budget office said on Tuesday , taking advantage of extremely low interest rates.

The tenders on offer will be announced on Nov. 13, it said, using one of the optional dates that it sets each year in April, November and December.

Interest rates are at rock bottom in Switzerland due to the Swiss National Bank's efforts - including its currency cap at 1.20 per euro - to prevent the franc from strengthening as the euro sovereign debt crisis prompts investors to seek safe havens.

Switzerland has a debt-to-gross domestic product ratio of around 35 percent, and a constitutionally anchored debt-break limits federal spending.