SNB keeps rates at -0.75% but increases inflation forecasts
War in Ukraine is boosting inflation through higher oil and other commodity prices, SNB says
The Swiss National Bank maintained interest rates unchanged at -0.75% after its monetary policy meeting on March 24.
The SNB statement noted that year-on-year inflation has increased over recent months, reaching 2.2% in February. The central bank’s target is a range between 0% and 2%.
The increase in price pressures “is primarily due to the significant increase in the prices for oil products and goods affected by supply bottlenecks”, the SNB said in its policy statement. “The tight situation
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