Swiss franc falls, Norwegian crown surges after SNB, Norges hikes

📆 6/22/2023 12:45 PM
📰 Reuters

⏱ Reading Time:
17 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 97%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The Swiss franc fell on Thursday after the Swiss National Bank (SNB) hiked its benchmark interest rate, while the Norwegian crown surged after a bolder Norges Bank move.

its benchmark interest rate by 25 basis points to 1.75%, defying some market expectations of a bigger increase.

"With today's interest rate hikes, the key rate and the inflation rate are converging. An interest rate hike of 50 basis points was therefore not necessary," he added. In an attempt to curb inflation, Norges Bank raised interest rates to 3.75%, sending the crown more than 1% higher both against the euro and dollar.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SNB Preview: Two scenarios and their implications for EUR/CHF – Credit SuisseTomorrow’s SNB meeting could be a decisive event for EUR/CHF. Economists at Credit Suisse envisage two scenarios. Hawkish (60% odds) Hiking by 50 bps
Source: FXStreetNews - 🏆 14. / 72 Read more »