After 15 Years, Switzerland Increases Interest Rates

Swiss National Bank announced that they decided to increase 50 basis points after the US Federal Reserve's 75 basis points increase in interest rates.

Swiss National Bank (SNB) officials stated that with a surprise decision, they decided to increase interest rates after inflation concerns. The SNB slashed its record-low policy rate by 50 basis points to minus 0.25 percent. The SNB recorded its first rate hike in 15 years as 50 basis points. “It cannot be ruled out that further increases in the SNB policy rate will be required in the foreseeable future to stabilize inflation,” the bank said in a statement. This decision by the Swiss National Bank came just after the Fed's decision to increase 75 basis points to intensify its fight against inflation. The bank's forecast in March was 2.1 percent for this year, and 0.9 percent for 2023 and 2024. After the revision, the inflation forecast was recorded as 2.8 percent for this year, 1.9 for 2023 and 1.6 for 2024. With the decision of the Swiss National Bank to increase interest rates, the Swiss franc gained more than 2 percent. SNB Chairman Jordan also stated that if the franc weakens, they can handle the sale of foreign exchange. You may also be interested in this; Bitcoin Predictions After 75 Basis Points Increase The US Federal Reserve (Fed) increased interest rates by 75 basis points. Fed Chairman Jerome Powell's comment, "I don't expect steps of this magnitude to become common," put a deep sigh on the crypto-asset market. Experts made evaluations about the crypto market. https://ieconomy.io/75-baz-puan-artisin-ardindan-bitcoin-tahminleri/