Switzerland and Norway raise rates

Swiss National Bank (SNB)
Swiss National Bank
Jennifer Delaney

The central banks of Switzerland and Norway both raised policy rates today (June 22).

The Swiss National Bank ordered its fifth consecutive increase, adding 25 basis points to the policy rate to bring it to 1.75%. The SNB board’s policy statement said further rate rises “cannot be ruled out”.

Switzerland’s headline inflation fell to 2.2% in May, down from 2.6% in April and 3.4% in February. The central bank expects further falls in the near term, but inflation to rebound and average 2.2% in

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