FOREX TradingCharts.com

Financial News: Swiss Central Bank Lifts Policy Rate To Positive

Swiss Central Bank Lifts Policy Rate To Positive Territory

09/22/2022 - 03:49:00 (RTTNews)

(RTTNews) - The Swiss National Bank raised its key interest rate to positive territory on Thursday to counter the renewed rise in inflationary pressure.

The central bank hiked the SNB policy rate by 0.75 percentage points to 0.5 percent, as expected. This was the second consecutive rate hike.

The interest rate turned positive for the first time since early 2015.

"It cannot be ruled out that further increases in the SNB policy rate will be necessary to ensure price stability over the medium term," the bank said in the statement.

To provide appropriate monetary conditions, the SNB is also willing to be active in the foreign exchange market as necessary, the SNB added.

The inflation projection for this year was raised to 3.0 percent from 2.8 percent. The outlook for 2023 was lifted to 2.4 percent from 1.9 percent and that for 2024 to 1.7 percent from 1.6 percent.

The SNB's new conditional inflation forecast is based on the assumption that the SNB policy rate is 0.5 percent over the entire forecast horizon.

On the economic front, the central bank said the further development is likely to be shaped by the economic slowdown abroad and the availability of energy in Switzerland.

For this year, the central bank forecast GDP growth of around 2 percent, this was roughly half a percentage point lower than at the last monetary policy assessment.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2022 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


South Africa PPI Inflation Slows More Than Forecast (03 hr(s), 25 min(s), 16 sec(s) ago)
(RTTNews) - South Africa's producer price inflation eased more-than-expected in August, figure ...Full Story»

Czech Central Bank Keeps Rates On Hold (03 hr(s), 42 min(s), 16 sec(s) ago)
(RTTNews) - The Czech National Bank kept its key interest rates unchanged for the second straight ...Full Story»

U.S. GDP Declines 0.6% In Q2, Unrevised From Previous Estimate (03 hr(s), 54 min(s), 16 sec(s) ago)
(RTTNews) - The Commerce Department released its third estimate of U.S. economy activity in the se ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Dip To Five-Month Low (04 hr(s), 13 min(s), 16 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly fell to a five-month low ...Full Story»

German Inflation Sets New Record High Of 10% (04 hr(s), 28 min(s), 16 sec(s) ago)
(RTTNews) - Germany's consumer price inflation accelerated at a faster-than-expected pace to a ...Full Story»

UK Car Production Rises For Fourth Straight Month: SMMT (04 hr(s), 28 min(s), 16 sec(s) ago)
(RTTNews) - UK car production increased for the fourth straight month in August but volumes still ...Full Story»

Q2 Decline In U.S. GDP Unrevised At 0.6% (04 hr(s), 38 min(s), 16 sec(s) ago)
(RTTNews) - The Commerce Department released its third estimate of U.S. economy activity in the se ...Full Story»

U.S. Weekly Jobless Claims Unexpectedly Dip To 193,000 (04 hr(s), 44 min(s), 16 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly fell to a five-month low ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

South Africa PPI Inflation Slows More Than Forecast

09/29/2022 - 09:56 AM (RTTNews)
(RTTNews) - South Africa's producer price inflation eased more-than-expected in August, figure ...Full Story>>

Czech Central Bank Keeps Rates On Hold

09/29/2022 - 09:39 AM (RTTNews)
(RTTNews) - The Czech National Bank kept its key interest rates unchanged for the second straight ...Full Story>>

U.S. GDP Declines 0.6% In Q2, Unrevised From Previous Estimate

09/29/2022 - 09:27 AM (RTTNews)
(RTTNews) - The Commerce Department released its third estimate of U.S. economy activity in the se ...Full Story>>

U.S. Weekly Jobless Claims Unexpectedly Dip To Five-Month Low

09/29/2022 - 09:08 AM (RTTNews)
(RTTNews) - First-time claims for U.S. unemployment benefits unexpectedly fell to a five-month low ...Full Story>>

UK Car Production Rises For Fourth Straight Month: SMMT

09/29/2022 - 08:53 AM (RTTNews)
(RTTNews) - UK car production increased for the fourth straight month in August but volumes still ...Full Story>>

Do not sell my personal information

Copyright © 2022. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.