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Swiss National Bank keeps expansive policy despite more expensive franc -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is a general view showing the Swiss National Bank’s (SNB), Zurich, Switzerland. It was taken on March 7, 2022. REUTERS/Arnd Wiegmann

ZURICH (Reuters – Swiss National Bank held its extremely expansive monetary policy in place on Thursday. This is contrary to the trend set by other central banks, which has increased interest rates to combat rising inflation.

According to Reuters poll results, economists unanimously predicted that the SNB would keep its policy rate at -0.75%. The SNB also committed to currency intervention to stop the growth of the Swiss franc, which is safe and secure.

Even though the currency has reached its highest value against the euro in the last seven years, the central bank did not change its statement of the franc being “highly appreciated”.

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