SNB unexpectedly leaves Deposit Rate unchanged at 1.75% – Crypto News – Crypto News
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SNB unexpectedly leaves Deposit Rate unchanged at 1.75% SNB unexpectedly leaves Deposit Rate unchanged at 1.75%

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SNB unexpectedly leaves Deposit Rate unchanged at 1.75% – Crypto News

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At its quarterly monetary policy assessment on September 21, the Swiss National Bank (SNB) kept the benchmark Sight Deposit Rate on hold at  1.75%.

The rate decision was against the market expectations of a 25 basis points (bps) rate hike to 2.0%.

more to come …

Market reaction 

In a knee-jerk reaction to the SNB rate hike pause decision, the USD/CHF pair jumped to fresh three-month highs at 0.9059, up 0.69% on the day.

About SNB Rate Decision

The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.

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