SNB Dials Down Rate Hiking But Says More Increases Likely
- Quarterly Swiss decisions are half as frequent as Fed or ECB
- Rate increase marks a year since SNB tightening began
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The Swiss National Bank delivered the smallest interest-rate hike since it began monetary tightening a year ago while saying more action to tame inflation is probable.
“We are not at the end — most likely there could be more rate hikes necessary in order to bring inflation on a permanent basis below 2%,” President Thomas Jordan told Bloomberg Television in Zurich after policymakers lifted the key rate by a quarter point. That move to 1.75% matched median forecasts by economists surveyed by Bloomberg.