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June 20, 2024 5:52 am

Swiss National Bank enacts biggest-ever hike to key rate

Geneva, September 22

Switzerland’s central bank carried out the biggest hike ever to its key interest rate Thursday, following the US Federal Reserve and other central banks around the world in aggressive moves to clamp down on inflation.

The Swiss National Bank could not rule out that further increases beyond the rise of three-quarters of a percentage point “will be necessary to ensure price stability over the medium term,” said Thomas Jordan, chairman of SNB governing board.

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