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SNB hints that tightening cycle is nearing peak

Today’s decision by the Swiss National Bank (SNB) to raise the target mid-point for the 3 month Libor by 25bps to 2.25% was fully expected – indeed, the 3 month Libor itself had already reached 2.25% earlier this week. More interestingly, though, the press statement hinted for the first time that the tightening cycle might now be nearing its peak.

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