The Bank of England announced another 25bps hike in its benchmark interest rate, taking it to 4.25% in its latest monetary policy decision, while the Swiss National Bank upped its key rate by 50bps to 1.5% - following the trend set earlier in the week by the Federal Reserve, which applied its own 25bps hike, and that of the European Central Bank on 16 March, when it said it would raise its three key lending rates by 50bps. The ongoing tightening in the UK and Switzerland came against ongoing volatility in the macro environment and with fears of a credit crunch sparked by the collapse of ...
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