Market Pulse
Swiss National Bank makes half-point rate hike
The Swiss National Bank, just days after rescuing Credit Suisse, said it is lifting its policy rate by a half point to 1.5%. "In doing so, it is countering the renewed increase in inflationary pressure. It cannot be ruled out that additional rises in the SNB policy rate will be necessary to ensure price stability over the medium term," said the Swiss bank in a statement. The Swiss franc rose against the dollar after the decision.
-Steve Goldstein
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(END) Dow Jones Newswires
March 23, 2023 04:41 ET (08:41 GMT)
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