SNB increases rates by 50bp in wake of Credit Suisse crisis
Swiss central bank sold Sfr27 billion in foreign currency in Q4 to tighten financial conditions
The Swiss National Bank (SNB) increased interest rates by 50 basis points today (March 23) at its quarterly policy assessment.
In February inflation increased year on year by 3.4%, above the SNB’s target of less than 2%. “The latest rise in inflation is principally due to higher prices for electricity, tourism services and food,” the SNB said. “However, price increases are now broad-based.”
“The renewed increase in our policy rate is therefore necessary to ensure that inflation returns to the
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