SNB hikes rates as expected

The Swiss National Bank (SNB) raised interest rates by 25 basis points on Thursday 16 March, saying that the economy is gaining further momentum and is becoming increasingly broad-based.

The three-month Libor rate range has been raised by 0.25 percentage points to 0.75-1.75 pct, and the bank intends to keep the rate in the middle of the target range at 1.25 pct, it said.

By raising the target range, the SNB is adjusting its monetary policy stance to economic activity, it explained.

However, "des

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