Swiss Central Bank Hikes Interest Rates Despite Credit Suisse Turmoil

View of the Swiss National Bank in Zurich, Switzerland, on June 23, 2022. Arnd Wiegmann/Reuters

The Swiss National Bank (SNB) raised its interest rates by 50 basis points despite the turmoil over the Credit Suisse collapse.

The SNB made the announcement on March 23, bringing its borrowing rate to 1.5 percent, for its fourth consecutive hike, which was is in line with analysts’ predictions