Wow! .... The SNB went for a 75bp? ..... things are really serious in the fiat-market!
Swiss National Bank tightens monetary policy further and raises SNB policy rate to 0.5%
The SNB is tightening its monetary policy further and is raising the SNB policy rate by 0.75 percentage points to 0.5%. In doing so, it is countering the renewed rise in inflationary pressure and the spread of inflation to goods and services that have so far been less affected. It cannot be ruled out that further increases in the SNB policy rate will be necessary to ensure price stability over the medium term. To provide appropriate monetary conditions, the SNB is also willing to be active in the foreign exchange market as necessary. The SNB policy rate change applies from tomorrow, 23 September 2022. Moreover, the ... (full story)