Swiss National Bank raises rates in shock move, ready for more – Reuters
- Date: 16-Jun-2022
- Source: Reuters
- Sector:Financial Services
- Country:Jordan
Swiss National Bank raises rates in shock move, ready for more – Reuters
BERN, June 16 (Reuters) - The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike further, joining other central banks in tightening monetary policy to fight resurgent inflation.
The central bank increased its policy rate to -0.25% from the -0.75% level it has deployed since 2015, sending the safe-haven franc sharply higher. Nearly all the economists polled by Reuters had expected the SNB to keep rates steady. L8N2Y31U7 read more
It was the first increase by the SNB since September 2007, and followed a 0.75 percentage point hike in borrowing costs by the U.S. Federal Reserve on Wednesday.
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