CHF/SNB – The Swiss franc soared on Thursday after the Swiss National Bank delivered a surprise interest rate hike, increasing its policy Rate to -0.25% from -0.75%. Additionally, the SNB notes that based on their latest inflation forecasts, further rate hikes were likely in the coming meetings. The rate increase was the central bank’s first hike in 15 years.
GBP/BoE – An overall volatile day for GBP, largely in part to the BoE’s June meeting, where the central bank increased interest rates by 25 basis points taking the Official Bank Rate to 1.25%.
GBP initially weakened after the BoE’s announcement, which fell short of some participants’ expectations following the FOMC’s aggressive 75 basis point hike on Wednesday. However, GBP eventually pared its initial losses and continued to print fresh highs as the focus shifted to the BoE’s statement to act “forcefully” in response to “indications of more persistent inflationary pressures.”
GBP/BoE – An overall volatile day for GBP, largely in part to the BoE’s June meeting, where the central bank increased interest rates by 25 basis points taking the Official Bank Rate to 1.25%.
GBP initially weakened after the BoE’s announcement, which fell short of some participants’ expectations following the FOMC’s aggressive 75 basis point hike on Wednesday. However, GBP eventually pared its initial losses and continued to print fresh highs as the focus shifted to the BoE’s statement to act “forcefully” in response to “indications of more persistent inflationary pressures.”
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.