The Swiss National Bank cut the policy rate from minus 0.25% to 0.50%.
Global central banks are trying to keep up with the Fed’s aggressive tightening.
In Switzerland, which has been in negative interest for a long time, the negative interest period has ended.
The Swiss National Bank raised the policy rate from minus 0.25% to 0.50%. That was the expectation in the Bloomberg survey.
In the text of the decision, the bank pointed out that the possibility of continuing interest rate hikes in the foreseeable future is on the table.
Looking at the expectations for inflation, the bank predicted that the inflation, which was 3 percent this year, will decrease to 1.7 percent in 2024.