Swiss central bank raises interest rates by 0.50% despite Credit Suisse bank turmoil

Swiss bank interest rate is now at 1.5%

The Swiss National Bank increased its core interest rate by 0.50% taking the basic rate to 1.5%.

The rate change is the fourth consecutive hike, in-line with analyst expectations, despite the recent turmoil in Switzerland’s banking sector.

Swiss inflation climbed to 3.4% – year on year, well above expectations.