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Swiss National Bank Hikes by 75 Basis Points, EUR/CHF Pops Higher

September 22, 2022

Via: DailyFX

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The Swiss National Bank (SNB) jacked up interest rates by 75 basis points today to take the official borrowing rate into positive territory for the first time in over a decade. Financial markets had fully priced in a 50bp increase with commentators leaning toward a three-quarters-of-a-percent-rise in recent days. The SNB said that they cannot rule out further rate increases, ‘to ensure price stability over the medium term’, while the central bank also said that it is ‘willing to be active in the foreign exchange market as necessary’.

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