Swiss central bank says crisis halted as it hikes interest rates

Swiss central bank says crisis halted as it hikes interest rates

By Mark Thompson, CNN Switzerland’s banking crisis has been halted, the country’s central bank said Thursday as it hiked interest rates for the fourth time in a bid to contain inflation. Together with the Swiss government and financial market regulator FINMA, the Swiss National Bank (SNB) helped orchestrate the emergency takeover of Credit Suisse by UBS on Sunday to prevent the collapse of the country’s second-biggest bank. “The measures announc…

Swiss Central Bank Hikes Interest Rates Despite Credit Suisse Turmoil

The Swiss National Bank (SNB) raised its interest rates by 50 basis points despite the turmoil over the Credit Suisse collapse. The SNB made the announcement on March 23, bringing its borrowing rate to 1.5 percent, for its fourth consecutive hike, which was is in line with analysts’ predictions Swiss interests rates were negative 75 percent until June, when the central bank started to hike interest rates for the first time in 15 years due to ris…

Credit Suisse deal averted crisis, Swiss central bank says

By JAMEY KEATEN and DAVID McHUGH (Associated Press) GENEVA (AP) — The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil. In a statement, the Swiss National Bank said it is providing large amounts of support for the deal to merge Switzerland’s biggest banks and that the late Sunday announcement by the federal governme…

Switzerland hikes interest rate to 1.5%, says Credit Suisse takeover halted 'crisis'

Switzerland's central bank raised its key interest rate by 0.5% Thursday amid renewed inflationary pressures and in the wake of the rescue of the country's second-largest bank at the weekend.

Credit Suisse deal averted crisis, Swiss central bank says

GENEVA (AP) — The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.

Credit Suisse deal averted crisis, Swiss central bank says

GENEVA (AP) — The Swiss central bank hiked its key interest rate Thursday and declared that a government-orchestrated takeover of troubled Credit Suisse by rival bank UBS ended the financial turmoil.