Swiss Franc strengthens due to SNB

Source: Dukascopy Bank SA


The Swiss National Bank has hiked its SNB Policy Rate from 1.00% up to 1.50%. The central bank has hiked interest rates despite the ongoing turmoil in the country's banking sector.

As a result of the rate hike the Swiss Franc immediately gained value against peer currencies. The SNB hike caused a 0.46% percent decline. The combined actions by the US Federal Reserve hiking only 0.25% and the SNB hiking 0.50% have caused a decline of 1.30% since 18:00 GMT on Wednesday.

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Thu, 23 Mar 2023 12:12:55 GMT

Bank of England hikes Official Bank Rate

The Bank of England has once again hiked its base interest rate. Official Bank Rate has been increased from 4.00% up to 4.25%, as the market expected. In the meantime, note that seven out of the nine BOE Monetary Policy Committee members voted for the 0.25% rate hike. Two members voted to keep interest rates intact.

Wed, 22 Mar 2023 18:18:21 GMT

US Federal Reserve hikes interest rate

The United States Federal Reserve Federal Open Markets Committee has just increased the Federal Funds Rate from 4.75% up to 5.00%. The market consensus was that the Fed would hike 0.25%.

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