Switzerland Also Takes a 'Giant Step'... Raises Benchmark Interest Rate by 0.75%P
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2022061710293817038_1655429377.jpg)
[Asia Economy Reporter Buaeri] The Swiss National Bank (SNB) announced on the 22nd (local time) that it will implement a giant step by raising the benchmark interest rate by 0.75 percentage points.
On the same day, the SNB stated, "We cannot rule out a 0.75% increase," explaining that it is "to stably manage the inflation situation."
This is the first time Switzerland has raised the benchmark interest rate by as much as 0.75% at once. As a result, the benchmark rate, which was at a negative rate (-0.25%), has risen to 0.5%.
Hot Picks Today
Who Is the Twenty-Something Man Who Blew $800,000 a Day on Ferraris and Hermes Bags in Nightclubs?
- "The Flavor That Won Over Ahn Yujin" Now at Convenience Stores... 500,000 Units Sold Out in 5 Days, What's Behind the Craze?
- Assemblyman Kang Myunggu Raises Suspicions of "Relabeling Chinese Products" in Police Body Camera Procurement
- Asked ‘Where to Invest $10,000’: “Water, Luxury Goods, and Korea”…Foreign Experts Say “Still Undervalued”
- "Never Seen Anything Like This in My Life, Shocked" Feces Discovered in the Middle of Jamsil Baseball Stadium Passage
Meanwhile, the European Central Bank (ECB) took a giant step on the 8th by raising the benchmark interest rate from 0.5% to 1.25%. This was interpreted as a measure considering that the inflation rate in the 19 Eurozone countries using the euro exceeded 9% last month.
© The Asia Business Daily. All rights reserved. Unauthorized AI training and use prohibited.
