Policymaker stated they are maintaining the banks ultra-loose monetary policy with a view of ensuring price stability by countering the upward pressure of the franc and providing ongoing. The central bank sets its base rate through a formula that is 50 basis points above the prevailing US Fed Funds Target or the average of the five-day moving.
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The Swiss National Bank held its policy rate at -075 and the interest rate it charges on overnight deposits it holds for commercial banks at -075 at its March 2022 meeting as widely expected.
. The Hong Kong Monetary Authority HKMA raised the base rate by 50 basis points to 125 percent on May 5th 2022 tracking a similar move by the US Federal Reserve as its currency is pegged to the US dollar.
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