The Swiss National Bank raised its key interest rate unexpectedly on Thursday, to combat inflationary pressures.
The bank raised the policy rate and the interest rate on sight deposits at the SNB by half a percentage point to -0.25 percent from -0.75 percent. "It cannot be ruled out that further increases in the SNB policy rate will be necessary in the foreseeable future to stabilise inflation in the range consistent with price stability over the medium term," the bank said in the statement.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.