The three-month Swiss franc LIBOR rate inched lower on Monday as the Swiss National Bank's measures to bring the rate back to its target of 2.50 percent worked their way through the system. The LIBOR -- the SNB's targeted rate which is set by markets -- was fixed at 2.68 percent on Monday, down from Friday's 2.72 percent and recent highs of 3.13 percent. "The whole package is obviously having the desired effects. The LIBOR is heading the right way," UBS analyst Reto Huenerwadel said. Recent comments from SNB officials showed that the central bank was still not content with the situation on the money market and wanted to get the LIBOR to its current target before considering more cuts, he said.