The Swiss National Bank has announced its first interest rate hike in 15 years in an attempt to stop prices from rising further.
The central bank of Switzerland said on Thursday that it had decided to raise its policy interest rate by 0.5 percentage points from minus 0.75 percent to minus 0.25 percent. It is the first increase by the SNB since 2007.
The SNB hinted that further rate increases may be necessary.
On the foreign exchange market, investors are buying the yen and selling the euro on concerns that the sudden tightening by the SNB could dampen the European economy.
The central bank of Switzerland said on Thursday that it had decided to raise its policy interest rate by 0.5 percentage points from minus 0.75 percent to minus 0.25 percent. It is the first increase by the SNB since 2007.
The SNB hinted that further rate increases may be necessary.
On the foreign exchange market, investors are buying the yen and selling the euro on concerns that the sudden tightening by the SNB could dampen the European economy.
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Summary
Swiss National Bank raises interest rate for the first time in 15 years to combat price increases; from -0.75% to -0.25%. Further increases may be considered. Investors react by buying yen and selling euro due to concerns over potential impact on European economy. #SNB_InterestRateHike
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ID: 62ac1e88-3894-41fb-b09b-422ec0a80b98
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20220616_40/
Date: June 16, 2022
Created: 2022/06/17 15:26
Updated: 2025/12/09 15:28
Last Read: 2022/06/17 15:26