To prevent the spread of inflation in goods and services, the rate was raised to minus 0.25%.
The Swiss National Bank (SNB) on Thursday, June 16, for the first time since 2007 raised the discount rate by 50 basis points to minus 0.25% per annum.
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The previous rate level (minus 0.75% per annum) has been maintained since 2015.
“The purpose of the monetary policy restriction is to prevent the spread of inflation in goods and services in Switzerland. It cannot be denied that in the foreseeable future further increases in the SNB rate will be necessary to stabilize inflation in a range that ensures price stability in the medium term, “the statement said.
After that, the Swiss franc against the euro jumped to 0.9825 euro from 0.9631 euro the previous day.
On the eve of the US Federal Reserve for the first time since 1994, it immediately raised its base interest rate by 0.75% base point – to 1.5-1.75% per annum.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.