SNB raises key deposit rate by 25 bps to 1.75%, as expected

Following its quarterly meeting in June, assessing the monetary policy, the Swiss National Bank (SNB) announced 25 basis points (bps) increase to its benchmark sight deposit interest rate, lifting it from 1.50% to 1.75%, as widely expected.

The SNB delivered the fifth consecutive interest rate hike. Economists are now expecting the SNB to be on hold for at least the rest of the year following this month’s move.

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