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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.
Thu, 23 Mar 2023 10:20:38 GMT
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.