SNB Surprises With Rate Pause as Tightening Tames Inflation
- Swiss central bank leave door open for futures hikes
- Past rate moves have helped counter inflation pressures
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The Swiss National Bank defied expectations of another interest-rate hike, pausing its monetary tightening in a bid to avoid adding constriction onto a stalled economy.
Policymakers led by President Thomas Jordan left the key rate at 1.75%, an outcome anticipated by only a small minority of economists surveyed by Bloomberg.