SNB hikes key deposit rate by 50 bps to 1.50%, as widely expected

In its quarterly monetary policy assessment, the Swiss National Bank (SNB) raised its benchmark sight deposit interest rate by 50 basis points (bps) from 1.0% to 1.50% in March, as widely expected.

The SNB raises rates for the fourth straight meeting, with markets now expecting the final hike to come in June.

more to come ...