SNB Surprises Markets with 50bps Rate Hike and Shifts to Tightening Bias
SNB raises sight deposit rate to -0.25% The Surprise Move by SNB Today, the Swiss National Bank (SNB) shocked the markets by raising the sight deposit rate by 50 basis points to -0.25%. This unexpected decision was made in an effort to counter increased inflationary pressure in the Swiss economy. Along with this rate hike,…