Swiss central bank enacts biggest-ever hike to key rate

Switzerland's central bank on Thursday carried out the biggest hike ever to its key interest rate in an effort to clamp down on inflation.

The Swiss National Bank said in a statement on Thursday that it could not rule out further increases beyond the increase of three-quarters of a percentage point rise "to ensure price stability over the medium term". The move raised the rate from minus 0.25 per cent to 0.5 per cent, which would be effective from Friday.

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