Page 5 - Karsten Junius News Today

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ECB Window for Big Rate Hikes Narrows With Recession Nearing

ZURICH (Reuters) - The amount of commercial bank cash held overnight with the Swiss National Bank fell by 30 billion Swiss francs ($30.07 billion) las...

The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign currency in market interventions in the second quarter of 2022, data on Friday showed, ending an era of heavy foreign currency purchases to curb the francs gains.

The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign currency in market interventions in the second quarter of 2022, data on Friday showed, ending an era of heavy foreign currency purchases to curb the francs gains.

The Swiss National Bank raised its policy interest rate by 0.75 percentage point on Thursday - only the second rise in 15 years - and said it could not rule out more hikes as it joined other central banks in tightening monetary policy to curb inflation.

Switzerland exited the era of negative interest rates on Thursday when its central bank joined others around the world in tightening monetary policy more aggressively to combat resurgent inflation.

The European Central Bank has said it intends to hike key interest rates by 25 basis points later this week. Could the bank surprise markets with a bigger hike? As the suspense grows, so are expectations of its fallout.

The ECB has said it intends to hike key interest rates by 25 basis points later this week. Could the bank surprise markets with a bigger hike? As the suspense grows, so are expectations of its fallout.

BERN — The Swiss National Bank raised its policy interest rate for the first time in 15 years in a surprise move on Thursday and said it was ready to hike…