The measure comes as a surprise. Contrary to the expectations of most economists, the Swiss National Bank (SNB) increased the key interest rate from -0.75 to -0.25 percent in its monetary policy assessment. The reason is growing concerns regarding inflation.
SNB President Thomas Jordan announces a tightening of monetary policy.
In recent years, the monetary policy assessments of the Swiss National Bank (SNB) have rarely caused a stir. The message has always been the same since spring 2015: the SNB is continuing its expansive monetary policy unchanged, the key interest rate remains at -0.75 percent and the bank is prepared to intervene in the foreign exchange market to prevent a strong Swiss franc.
