Swiss National Bank on Thursday raised its benchmark interest rate to 0.5%. The 75-basis-point hike follows an increase to -0.25% on June 16, which was the first rate rise in 15 years. Prior to this, the Swiss central bank had held rates steady at – 0.75% since 2015. The bank said raising the policy rate was “countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected”Read Long Article
