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Swiss National Bank defends raising rates, says it's not to blame for Credit Suisse failure

Published on: Wednesday 31 May 2023

Swiss National Bank defends raising rates, says it's not to blame for Credit Suisse failure ZURICH (Reuters) - Swiss National Bank Chairman Thomas Jordan on Wednesday defended recent interest rate hikes to tackle inflation, saying they were neither damaging for Swiss financial stability nor responsible for the downfall of Credit Suisse. The SNB has increased interest rates four times over the past year to reduce inflation which has persisted above the central bank's target of 0%-2%.


News source: https://www.msn.com/en-ca/money/topstories/snb-defends-raising-rates-says-not-to-blame-for-credit-suisse-failure/ar-AA1bX7jc

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