Rates: Swiss National Bank raises rates by 25 basis points

(Boursier.com) — As expected, the Swiss National Bank (SNB) is continuing to tighten its monetary policy and is raising its key rate by 25 basis points to 1.75%. It thus counters inflationary pressure, which has once again increased in the medium term. This is its fifth consecutive increase since the start of the cycle that began last year. It is not excluded that further rate hikes are necessary to ensure price stability in the medium term, specifies the SNB.

In order to ensure appropriate monetary conditions, the National Bank also remains ready to be active on the foreign exchange market if necessary. In the current context, it is mainly about the sale of currencies.