17 days ago • Posted by Ajmir Omid

SNB raises rates by 50bps! #chfusd #forex #SNB

The USDCHF dropped as much as 1.8% following the Swiss National Bank's interest rate decision. The SNB surprised markets by announcing a 50 basis point rate hike, the first time since 2007 in an attempt to counter the risk of higher for longer inflation numbers. The Central bank said further increases are on the table should inflation remain high. The sentiment remains in favour of a stronger Swiss franc.